Tuesday, January 15, 2008

THERE WILL BE BLOOD ( IN THE MARKET)

This aptly titled movie could be referring to the stock market itself. There will be Blood. How true.

In after hours Intel INTC is being disembowled after reporting soft earnings and weak guidance. Futures are down by alot and tomorrow is likely to see an open a few hundred Dow points down.

Option expiration is on Friday and I do suspect we could get some upside after some panic selling to start tomorrow though I wouldn't bet on it. For all I know the wheels could really come off and we may close down 5% across the board. I really want to see panic selling amongst retail investor before I step in on the longside. Until than I continue to play the shortside via SKF and SRS.

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