12:00 Update: (chart) Bears have considerably won for day #2. Congratulations those that hung on shorts. Upped my shorts for today but still closing out long positions in pharmaceuticals and the biotechs so I'm cleaning house. Short positions in QLGC (puts), VRTY and ADBE (puts only).
That chart posted by QLGC compared with a chart today shows the support has broken. Still have upside in pharmies (mixed) and retail has finally begun to the upside. Technology is the dumps today as the weakest sector. XLNX was already issuing guidance at 5:10 a.m. and the fate of QLGC and the semis was sealed for today and that after the NOK debacle yesterday.
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