Tuesday, May 6, 2008
today's market action
market continues, like george costanza, to do the opposite. although this market has a tough row to hoe, there is apparently money out there that needs to be put to work and the prevailing psychology is a fear of being left behind. perhaps we are seeing the market starting to climb the wall of worry, but the release of the csco earnings marks the last of the big reports. in addition to the high level of speculative activity, there was plenty of buying in technology ahead of that news. with earnings season wrapping up, it will be interesting to see what happens now with that catalyst out of the way. csco's earnings and guidance look pretty good, by the way.