I'm very bearish for same reasons as you...don't trade full time and have been traveling w/work last 2 wks and out of tune... i'm expecting a CSCO scorch Wed after earnings..for one last rally....what do you see for the odds of that... also..i'm beginning to believe they could prop it up for a while til the war is escalated to keep jp6 happy and supportive... anyone?
1 reply to this topic
Posted 03 February 2007 - 02:26 AM
CSCO earnings will be good but question is "is it priced in" The reason CSCO pulled back sharply in the last few weeks was the fact that almost %100 of the analyst crowd was holding $28-$29 target for CSCO... It was achived. The pullback was a profit taking on valuation reasons. They also upgraded bunch of other Networkers today but it seemed to me this was just a part of the whole campaign to pump the things up across the market today. It was a mass upgrading spree today, which failed miserably as there was no reaction from the market that closed flat on vapors overall... Personally if CSCO gaps up, Market will once again dump on it, just like YHOO EBAY and most of the other tech... The problem with tech is future not now imo.
Edited by xD&Cox, 03 February 2007 - 02:27 AM.