The Morning Morsel-Refresh Cycle Helps Intel Rock


It was a beautiful quarter for INTC and I give them props and salutations for performing so well in the midst of a global slowdown. The stock has done nothing in a decade and maybe this time, it can get through $25 and stay there for more than a week. The company is benefiting from a dramatic corporate “refresh cycle” and the launch of Windows 7 helped. This cycle could last a few more quarters. We’ll find out in a few weeks how much is already priced in. Enterprise spending shows strength but the consumer is still dead.

Same with CSCO, everyone gets fuzzy for a few days after a good report, until the reality of “Oh, it’s Cisco kicks in”. MSFT same thing. They are all old tech now. Much needed technology, just old. Amazon and Ebay have become retailers.

We now look to names like Google, fast becoming old tech in my humble opinion. When GOOG isn’t being asked to leave China and then being asked back in, frustrating the hell out of shareholders, it is driving around the globe in Google cars stealing data from Congressmen on  Georgetown’s tree lined streets. Funny stuff actually.

The S&P is popping, and the bears love to talk about their McClellan Oscillators being overbought, and the bulls scoff at head and shoulder patterns and death crosses. Everyone gets to be a little right and a little wrong. The rally of the the last couple of days has been on the lightest volume of the year. Interesting. Fed minutes at 2PM.

Hey, it’s summer, just enjoy the action.

Some longs that we have monetized on the Premium Site this week are: APKT +7.0%, IDT +8.0%, STEC +3.0%. Some names we are currently long are: ROVI, AGN,and ABC and short MOS.

Have a great day trading.

Wednesday, July 14, 2010
08:30 US June Import Price Index, June Advance Retail Sales
10:00 US May Wholesale Inventories
10:30 DoE Crude Oil/Gasoline/Distillate Inventories
13:00 US Treasury’s $13B 30-yr auction
14:00 FOMC Minutes
15:00 Argentina June CPI, Wholesale Price Index
17:00 Colombia May Trade Balance
VRGY Analyst Meeting. 07:00 MBA Mortgage Applications. Trades Ex-dividend: EOG $0.155, FL $0.15, YUM $0.21.
Before the Open: IGTE, JTX, PGR, TXI. After the Close: LSTR, MAR.
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