Wednesday, February 3, 2010
CSCO Surge
The futures got a boost on the CSCO earnings and it looks like we're heading higher for the near term. I think this sets up a grind higher tomorrow with a blowoff top on Friday. It is not a great risk reward in my view to go long here, even though I think it goes higher near term. It looks like I'll get another chance to enter my short position at higher prices.
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3 comments:
All I will say is this dawg. Had I just stuck with my conviction that the market was a top 2 weeks ago and stuck to the short side and one longer term macro direction rather than tried to ride the mini bounces along the way I'd be better off than I am now. If you pick and choose your spots well the noise along the way is just that, noise.
How can we rally off cisco? Every tech company that has reported has sold off hard.
They killed the number and while listening to the conference call i found an interesting number.
Aged recievables 39 days old compared to 18 days old same quarter last year.
Also the amount was $4.6 billion in aged recievables compared to $1.9 billion same period last year.
Muy intersante?
Ignore the anonymous comment. It is best to guess where support and resistance areas are and enter & exit shorts in those areas. I'll be playing the long side. I'd appreciate it if you continue telling us where support & resistance areas are. Thanks.
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