Discussion in 'Trading' started by mikeenday, Jul 20, 2011.
QQQ takes a rest today,
new high is coming soon.
You may be right.
I may be crazy
crazy like a fox
But is just might be a lunatic you're looking for.
Turn out the light.
Don't try to save me
If anyone didn't see the gap on the daily S&P500 chart at 1350, and that all big gaps have to be filled... And this was like 2 weeks ago (the gap)... They shouldn't be in the business of trading!
With fantastic earnings from IBM (IBM), VMWare (VMW) and Apple (AAPL), does Cramer regret his bearishness on tech, and is it time to buy the sector? Cramer explained that, in the last ten years, tech stocks have consistently underperformed the S&P 500 from June until September. A few strong tech earnings reports in the past few days can't fight against the general trend that summer is not the time to buy tech. The sector starts to decline in January, after the holiday season, and doesn't recover until after the Back to School rush is over and inventories are cleared out. Another reason tech is slow in the summer is that Europe basically goes on vacation and stops buying, and with the European economy in the doldrums, lackluster performance on the continent is even more pronounced. Cramer would wait until September to buy tech.
Apple fantastic? What about the lower guidance? I am surprised it did not sell off. How about 330?
Separate names with a comma.