I would not be suprised to find that this is yet another low volume excursion. The report from Intel was quite positive and actually contained very little new information regarding the CAPEX that had not been disclosed before. It has been known that CAPEX would be <4B since the beginning of the month. So why the big reaction????
It also reveals how "dumb" some of the traders are in this market. The effort to twist "good news" into "bad news" has reached new heights. <G>
I suspect that this excursion is largely technical in nature and that it will correct itself. The volume is relatively light in advance of the reporting period that commences in earnest next week. This makes it easier to push the prices up or down. Again there is not enough volume to be convincing. MAX Pain is also just around the corner....
By next week, I expect to see the equipment maker recover some of their losses.
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