Damn, I feel like I'm in a time warp. Market is ramping higher, powered by the semi's and GS. Just like old times. Now if i could fire up the old CyberTrader, everything would be perfect, but that's history, thanks to the beancounters at Schwab.
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Is It 1998 All Over Again?
- Thread starter AAAintheBeltway
- Start date
Today was the first time I punched up ALTR and LLTC in at least 10 years.
This is what happens every single quarter, they lower their expectations so great that when earnings come in even though they are down they still come in above expectations..... under promise and over deliver, thats how come nearly 80% of companies beat earnings every quarter, this is the case with Linear Technology today as sales were down 23% and net income down 39%, but guess what it was above "expectations" so the the stock rallies......got to love games they play on wallstreet!
Linear Technology (Nasdaq: LLTC ) led the Nasdaq higher, jumping more than 9% after announcing fiscal second-quarter earnings. Even with sales down 23% and net income falling 39%, both figures came in above expectations. Moreover, the company predicted higher sales in the coming quarter. Integrated-circuit peer Maxim Integrated Products (Nasdaq: MXIM ) rose more than 5%, with strength seen throughout the industry.
Linear Technology (Nasdaq: LLTC ) led the Nasdaq higher, jumping more than 9% after announcing fiscal second-quarter earnings. Even with sales down 23% and net income falling 39%, both figures came in above expectations. Moreover, the company predicted higher sales in the coming quarter. Integrated-circuit peer Maxim Integrated Products (Nasdaq: MXIM ) rose more than 5%, with strength seen throughout the industry.
Quote from MKTrader:
Or the "Asian Contagion" and LTCM. Those were serious issues and real black swans at the time. Now, they seem like common, "Crisis Extra Light" events.
I remember that as though it were yesterday. The market just ramped relentlessly into early or mid July and then started dropping like a rock. Then the LTCM rumors began and all hell broke loose in August.
Of course, who can forget the Thursday before Oct OpEx and the Greenspan rate cut. That thing screwed over some people in a big way and was a harbinger of future Fed policy. The pre-emptive rate cuts became a part of Greenspan's arsenal.
XLNX just had its earnings and the stock is up after hours lifting the semis again, guess another up day tomorrow, of course INTC reports after the close tomorrow night so thats another big mover going into Fridays opening....I think INTC will probably show another great quarter and probably lift the stock to a 52 week high tomorrow evening, maybe above $27.00, at that time it will be time to start selling the rally, I feel one of those days where the market opens up on some good earnings reports just to sell off by the close.