Tainted Love
Sometimes
I feel I’ve got to…run away
I’ve got to…get away from the pain
The love we shared, seems to go nowhere
and I’ve lost my light…for I toss and turn I can’t sleep at night
once I ran to you……now I run from you
this tainted love you’ve given, I give you all a boy can give you
take my tears and that’s not nearly all……tainted love
Don’t touch me please, I cannot stand the way you tease
I love you but you hurt me so
Now I’m going to pack my things and go
—Tainted
Love by SoftCell
We certainly
witnessed history today. Cisco Systems, the undisputed heavyweight
champion of the technology sector, missed its quarterly earnings estimates
for the first time in the company’s history. As a result, networking
love-child Juniper Networks sold off hard as well and took the rest
of the second-tiers and momentum names down with it.
As Cisco Systems is one of the
top-five most widely held stocks in the country,
it should be interesting what mutual fund and 401-K statements will
look like at the end of
February.
The Nasdaq Composite
staged a small rally during the last 30 minutes of trading,
as it followed the lead of the March Nasdaq futures which obviously
experienced some short
covering towards the end of the session. All in all, not
much to get excited about even though the index closed well off its
intraday lows. At this
stage of the game, being a spectator with this index may
be the wisest thing to do.
The Dow, on the other hand, failed for
the third time in the past four sessions to close
above the 11,000 level. At this time, the Dow is setting up for a decent-sized
selloff if it can’t muster up a sustained move above the 11,030 level.
As I have a scheduling conflict this
afternoon, I will not be able to issue my
“standard” type of commentary today. I’ll return tomorrow with my full
daily analysis and satire.
Thank you and have a pleasant evening.
Goran