Wednesday, November 07, 2007

No Green

Today's slide was pervasive and unrelenting. For a while it looked like the Qs were going to manage another PP to S1 day, but things fell apart in the last hour as the other major markets accelerated in decline. It looked like S2 might be a probable reversal point going into the close, but CSCO's unconvincing earnings has it down 4.33 after hours and the Qs down to 22.75. Expect the futures to limit down at the open, and where we go from there is anybody's guess.

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