I seem to remember this report always has a delayed reaction in the markets. Last month the July preliminary number of .97 was viewed positively and the semi's rallied into the number and after the number but it took a day to spike up hard.
Now that July has been revised down significantly, especially in bookings and August is far less than expected with all the chatter about getting a book-to-bill over 1.00, this news is no doubt disappointing.
I may short some SMH or 3 amigos tomorrow. This could be the catalyst for the pullback you have been expecting.
No, but AMAT did an interesting dive about 15 minutes before the close.. shorts used that as an Opp. to cover..
IBM also taking a rest.. Seems the entire market is just waiting for an excuse to melt us up going into the weekend. Either that or its all one huge headfake and we see a huge plunge..
my money is on neither scenario.. Im raising cash wherever I can and going to wait for some direction. Its getting to where we are in nosebleed territory, but that usually just leads to higher prices as the herd piles on : )
Look at Zixi.. man oh man.. This one has been an enigma for years.. What the hell posseses people to buy these stocks??
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