Can Tech Come Back This Afternoon?
With earnings season well under way, there are many opportunities at the open,
as well as throughout the day. Good reports from bellwether tech companies
Microsoft
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PowerRating) and
Intel
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PowerRating) sent the market higher this morning. Now in pullback mode
intraday, the tech sector could be a play this afternoon.
Intel
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PowerRating) is trading in a Slim Jim near its highs. While not all Slim Jims
near their highs break to the upside, there is a tendency for them to do so. Be
sure and watch market dynamics on entry.
This hammer on both KLA-Tencor and the
Semiconductor HOLDRs could be the
start of something…
On the downside, Starbucks
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PowerRating) said it is acquiring Seattle Coffee for $72 million.
Although in a good uptrend on the daily chart, the stock is weak today, and may
fall further.
Have a good afternoon.