We're in the web 2.0 social networking internet technology boom of global growth and perpetual upside. Huuuge revenue, hugu growth. Venture capitalists, smart phones, facebook, myspace, youtube, and google. RIMM and AAPL. tons of web 2.0 headlines. The smarties and money guys wont let the market sell off much more. Not when the upside for growth is almost unlimited. http://news.google.com/news?hl=en&resnum=0&um=1&ie=UTF-8&tab=wn&scoring=n&q="web+2.0"&sa=N&start=40 Globalization and free trade and free market capitalism. Tons of spending, tons of buying. So much liquidity. Major funds ready 2 load up. Huuuge consumer spending. Dow 15000 by end of 2007. A new tech boom. Mitt romney and Edwards in 2008.
I think Cisco should even exceed expectations to prevent that drop. Anything else is already priced in.
CSCO has substancially underperformed RIMM, AAPL, GOOG and all those companies had great numbers and surged higher. Odds are CSCO will surge anyway, just to say on par with other tech names.
Most important post of today imho. S&P support at 1490 is very important. Market is looking VERY ugly today. I don't like what I am seeing at all. More news out from the FED saying more rate cuts coming.