The "Appearance" Agenda

yes was bernstein. the one of the big financials going down the pan was a surprise. makes you wonder if there's already been something on the grapevine to flag up something like that.

yeah i'd guess industrial leads the way down. if things are slowing then no need for expansion and new build outs, so stuff like nyse:cat who do earthmoving jcbs etc feel the pinch first.

early recession tech spending is cut, no new pcs for the workforce in lean times, have to make do with what you have already etc.

nasdaq i think is already starting to struggle. was posting on the isys thread recently (someone mentioned that isys basically follows the sox). from looking at the sox from a pnf view (3box,5) it looks like it's already started to break down and i said it looked like it was (and still is) on it's way back to it's 50% fib around 403. likewise for isys, going to it's 50% fib at 14.75/15.00.

hardly surprising with all the bad news & rev cuts coming out of chip co's like national semi in the last couple of months. i think it's being dragged higher kicking and screaming against it's will by the broader market bullish sentiment. but from the price action, you can tell there's no real buying momentum going on there.

found the yield curve info. it's inverted. pretty much as i expected with usa already flattening and us being further along than them because of raising rates earlier. so that's basically saying a top is approaching too.

from the stock list you posted above, i really cant get excited about telecoms at all, any of them. long term i think they'll be flat at best. imho theyre one of the great investing cons of this decade on par with the south sea bubble, tulips and railway bubbles.

firstly they still have large over capacity, because new customers are being enticed with lower prices. if they can cut prices, then theyve obviously got capacity to spare. so pressure on margins. on top of that, you have huge infrastructure maintenance costs and debt which needs to be serviced. at best i think they're overpriced utilities. you're more likely to be hit with a rights issue than a bumper dividend payout imho. by all means i'll trade the swings, but longer term, i'd avoid them like the plague.

my thoughts on skp are well documented on raven's huge potential thread. it's gained alot recently, it went parabolic. that is not usual market action. stocks only trend about 20% of the time. so it's got about 80% of dicking around not doing much left to do for a while yet ;-) in which case the price will drop down to the next support at 59.5/60 as the penny begins to drop that go go returns are the exception rather than the rule. i wouldnt even consider it until it hits that support or closes above that long term downtrend line above 70 for several days. no point buying it here, it's a fair way from support, it'll just be dead money and will probably hit that 59.5/60 support due to the lack of interest anyway. people are still bullish on the way down as is usual after parabolic moves.

rto,utf i dont really know anything about. i'll have a look later.