Despite the fact that the golden calf built upon the tombs of Intel and Cisco from ancient times, today was another day where the sacred cow known as the semiconductors took another dump. And it was not pretty after the previous week’s market action.
That is what some might call the “aw hell naw” technical formation but it’s too early to tell. But the initial short term action portends the potential for a very nasty end of week close should the financial reports come in anywhere below “we are buying California as a colony” level numbers as profits or future projections.
Not a very impressive chart which does indicate some selling may enter into tomorrow’s trading before the hedge fund elite gambling class bids it up for a quick profit tomorrow at the close and sells after the report.
Just remember folks, this is nothing new no matter what the media says and things could accelerate to the downside or upside with very little warning.
We’re reliving the casino in many a movie scene now, the risk to retail to become bagholders has never been higher.
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