JBL --> (December 19 after the close)FLEX and JBL were upgraded by UBS Warburg on the 12th and the result was NOTHING. On September 19th, JBL was a short and came out with a less than miraculous reporting catapulting the stock from 17 to a low of 11. It did recover but has since pulled back. Now that its in a rectangular consolidation so close to earnings, I would expect the EMS sector upside to be only a technical bounce. JBL is very strong but its very very expensive at 20 times earnings. I would have a dose of reality here and not get to entwined in a technical rally. Enjoy what we get but remember that at "midnight" cinderella might have to go back to her place in front of the cinders. Don't take anything more for granted than the rally you actually see. We should be in trading range for the next 6 weeks but I don't expect we will be seeing much more pullback in general, just selective. Earnings season has a lot of gifts for everyone.
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