Leadership stocks are being sold, all day long. However, for the most part, they’re still green.
It’s ok if they trade down a bit, but not tank.
Should AAPL, RIMM, VMW, GOOG, BIDU start getting “machine gunned,” the whole warm and fuzzy good feeling of yesterday’s rally will be replaced with panic and complete asshattery.
In addition to the above concerns, “The Fly” is quite busy yelling at his monitor, due to precipitous declines in XFML and VMI.
In other “newz,” MCHX goes higher, everyday.
Who would have thought?
Finally, there is a lot of selling pressure in MVIS. Personally, I know a lot of people who are throwing in the towel, preferring to go long some of the beaten down leaders.
As you know, upon stock market recovery, the leaders go up first, then the 2nd tier names. Finally, the lower tier speculative stocks, like MVIS, go up last.
I’m not selling until CES.
Har. Har. Har.Comments »