Tuesday, April 19, 2011
INTC Blowout Earnings
The crowd is leaning the wrong way heading into today's earnings. The expectations have been reduced significantly over the past week after the stinkers from AA, GOOG, BAC, etc. Now you have INTC blowing out the earnings expectations and IBM/VMW coming in strong. This could have a dramatic shift in risk appetite for the next few days. Monday's S&P downgrade of the US cleared out the weak hands and the past 2 days' intraday action speaks to underlying strength in the short term. This could drag out to next week, which could set up an exquisite shorting opportunity. But I don't want to get ahead of myself and will let the bulls go wild for a bit.
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4 comments:
the markets are closed Friday.
If intc hits 21.5+ I'll be shorting.
Intel will just break back up... don't short too consensus that QE2's end is the end of this rally... imagine maximum pain for shorts before shorting, 20.5++++++++ maybe
Remember you are fighting a tide where every week 401K plans have a choice real estate (no), bonds (no), equities (yes please)... the leverage unwind potential isn't big enough to sustainably crush this... still only room for fast or structural shorts.
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