CSCO beats estimates on top & bottom line.............but it was NOT good enough from wall street perspective.
CSCO margins were 1/2% less than their guidance.............so wall street says SELL on the ER.
CSCO MAY DRAG entire tech sector tommorrow.
Bids on most techs are already LOWER...........
Good time to get DEFENSIVE...until tech get back on its feet...........
Market may go in a downward adjustment as most good news are already priced in.........so rest of MAY......may not be all that good.
Fed inaction is also known to the market...............so SELL on any STRENGTH is a desireable strategy.
HPQ good guidance gave a big lift to the markets today......and CSCO will take it away.......
We are OVERBOUGHT in short term in DOW & TECH.
OIL,GOLD,URANIUM,MOLY,METALS...should do well going forward till august..........
Good luck on your strategy.
As always do your OWN due diligence.
BLOG does not give buy or sell.
Saleem
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