"CSCO and these 6 tech stocks will be higher a week from now By James Altucher Wow, those Cisco results were a total disaster, right? Cisco came out with their results and the stock instantly plummeted and S&P futures went down by 10 points. What a mess! But wait, it wasnât a disaster at all! CSCO revenues were up 27% and strong in every product and in every geography. Year over year income was up 79%. What happened? Why are things so down? Did earnings miss analyst estimates? No, earnings beat estimates by a penny? Did they miss on revenues? Aha! Yes, they missed on revenues. We have found our culprit. Estimates expected $10.88bb and Cisco had $10.84bb in revenues. Ummm, I guess thats a miss? Less than 1% difference between actual and the estimate. In fact, less than 0.5%. Rule of thumb, if the stock is down more than the perceived miss - its a buy." http://blogs.wsj.com/financial-advi...6-tech-stocks-will-be-higher-a-week-from-now/
Do you remember that guy and what he said on this forum? He "disappeared" immediately after his call on ET, and did not answer even when people wrote to him that he most likely have been reading but he does not respond. If he was right, you would have heard so much of his noise, you would want to disappear from ET forever.
6 stocks from the article: CSCO, HPQ, DELL, AAPL, BRCM, XLNX. actually I agree with him that CSCO and HPQ should bounce. don't have an opinion about the other 4. CSCO flat today, HPQ +1.5%
today is clearly a bad karma day but the market is handling it ok. many superstitious traders i guess refused to participate today. Events on August 13, 2010 Berlin Wall Erected Blame Someone Else Day Canada: Abbotsford International Airshow Caxton, William (Birth Date) Central African Republic: Independence Day Friday the Thirteenth Ginza Holiday: Japanese Cultural Festival Hitchcock, Alfred (Joseph) (Birth Date) Hogan, Ben (Birth Date) Illinois State Fair Kool-Aid Days Krupp, Alfried Von Bohlen Und Halbach (Birth Date) Montanafair Montgomery County Agricultural Fair Oakley, Annie (150th Birth Anniversary) Scotland: Edinburgh International Festival Space Milestone: Helios Solar Wing Stone, Lucy (Birth Date) Tetonkaha Rendezvous Tunisia: Women's Day West Virginia State Fair
Ask those who heavily bought puts and straddles expiring today and, and they may tell you that today was an ugly day. They were planning to make a killing today. The 45 QQQQ straddle at 3PM yesterday was worth around 0.70 cents (it was insane because the next Friday straddle was worth around 1.25). Those who sold the today straddle made the killing.