Wednesday, October 13, 2010

INTC and the Market

Well, what I thought would have happened to the market today happened to INTC.  We had the gap up on ok earnings and then a drip lower all day.  That was what I expected for the market but we managed to pull a levitation act again.  It feels toppy, but the market was so de-risked over the summer that it is taking longer than I expected for everyone to get on board the risk train.  Bernanke has a speech on Friday, I'm sure he'll greet the market with more QE goodies to look forward to.  All but the oceans' worth of liquidity is priced in right now.

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