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Author Topic: Tech stock beatdown.
Free Muney
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This is mostly for my own feedback but as of the past week, tech stocks have taken a serious hit. this could be labeled as a correction, but all tech stocks including ones with crazy momentum, and great numbers, Apple -16%, google 17%, Rimm -32%, all are taking a walloping. I know it has been a bad week, but these stocks should be seeing light pullbacks from market conditions, seeing that we are going into the holiday season and Ad spending for google will be up, and god nows every brat is gonna want an iphone, blackberry or some other gizmo. instead of lead laced toys... I struggle to believe this is a new downtrend. but this pullback is large.

anyone have an opinion that will shed some light on this phenom?
it seems like a good swing trade for most of these, especially Rimm, and apple. just need the right timing, I doubt the market can keep these 2 down.

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Contrarian views always appreciated.... :p

Posts: 361 | From: Portland, Oregon | Registered: Jun 2006  |  IP: Logged | Report this post to a Moderator
BooDog
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jmo but watch the bond market also. Some here have started to slip a little. Seems some are also going up as people seek shelter but yields are wavering. With the housing and mortgage markets struggle and gas prices the way they are I am thinking major markets will see major lows over the winter months. Not to mention the strength of the good 'ole dollar. This could strike 5yr + lows. I am watching, and i'm waiting. Could be looking at some decent shakeouts.

Check this out and related articles...
http://www.ft.com/cms/s/0/2cd67856-93f3-11dc-acd0-0000779fd2ac.html

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7754 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
BooDog
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.

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7754 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
Free Muney
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jumped in apple today. i think it is the safest over christmas hold/bounce play on the market. music, music players, cell phone, and computer markets, all in the premium price range, and those are all good christmas gifts for a broad range of demographics...imo. with or without irrational price fluctuations.

boo i know nothing about bonds. I am sure these will affect prices and volitility but I think tech over xmas should be rather bullet proof. And if I'm wrong, then you can send me tips on predicting market reactions to bond markets [Smile] I would love to learn all i can for a more "big picture" assesment of the market.

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Contrarian views always appreciated.... :p

Posts: 361 | From: Portland, Oregon | Registered: Jun 2006  |  IP: Logged | Report this post to a Moderator
BooDog
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Yahoo...

Top StoriesAs of 2 hours, 41 minutes ago
Dow Drops Below 13,000- AP
Stocks slid further Monday as Wall Street absorbed a gloomy outlook for the banking sector and anticipated bleak news from the National Association of Homebuilders. The Standard & Poor's 500 index and the Dow Jones industrial average each lost more than 1 percent.

Gas Prices Fall As Oil Futures Slip- AP Citigroup Falls After Analyst Downgrade- AP Freddie Mac Subprime Losses May Hit $5 Billion: CS- Reuters Lowe's 3Q Profit Falls, Cuts Outlook- AP » View more top stories

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7754 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
BooDog
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Following the money.

Stocks Set for Rough Open
By Robert Holmes
TheStreet.com Staff Reporter
11/21/2007 7:53 AM EST

Stocks were set to slide early Wednesday, as oil hit a record high and the dollar continued its downward spiral.

Futures on the S&P 500 were sinking 13.40 points at 1432.50 and were more than 11 points below fair value. Nasdaq 100 futures were falling 17 points at 2018.50 and were about 19 points lower than fair value.

Meanwhile, U.S. Treasury bonds were rallying early, pulling down yields. The 10-year note was up 25/32 in price, yielding 4.00%, a level not seen in two years. The 30-year bond was adding 1-3/32, yielding 4.44%.

Overnight, crude futures reached a record $99.29 a barrel, oil's first time above the $99-a-barrel mark. Recently, though, crude was up 27 cents from the last settlement price to $98.30 a barrel.

The dollar lost ground against the euro and the yen on fears that credit market woes and higher energy costs will cause economic growth in the U.S. to slow.

Both higher oil prices and a weakening dollar become more worrisome for traders in light of Tuesday's release of the minutes from the October Federal Reserve policy meeting.

The expanded minutes showed that Fed members regarded the interest rate cut last month as a "close call," but that the reduction was appropriate to help offset the effects of tighter financial conditions on the economic outlook.
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On another note...

Aruba Networks Inc. (ARUN:US): The maker of wireless networking equipment rose 94 cents, or 6.2 percent, to $16.06 in extended trading. The company reported it's gaining market share as fiscal first-quarter sales rose 91 percent to $46.7 million, topping the average $45.6 million expected by 10 analysts.

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

Posts: 7754 | From: Virginia | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
   

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