Indices fought back sellers and buyers came in.All indices closed green.
Internals were strong.....
AH CSCO guidance was "horrible"...they are guiding Revenue growth of 3% to 5% vs expectations of 13%..I have not seen too many company which misses guidance by that much.CEO Chambers was giving a laundry list of excuses about their poor performance.I personally believe that Chambers who has no background in technology is NOT up to task for a long time..it is time for him to go....
CSCO stock was down 12.62% in AH volume of 42.07 million shares,it normally trades 56 million during regular hour......
AH China reported CPI & PPI hotter than expectations,which may result in further tightening of lending...Retail sales was slightly below expectations.
I am planning to add position in a weak open,thanks to serial under performer CSCO & its CEO.
AH Futures Down
AH Asian market UP
AH Oil & Gold UP
BLOG does NOT give buy or sell.
Saleem
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