Wednesday, May 12, 2010

Over the hump

• Hump Wednesday can't be repeated on Thursday. No way. I base this super scientific analysis on the prognosticational prowess of Beanie of Beanieville, who is rarely wrong in his read of the market. He says it's the bears' turn tomorrow, at least in the morning. Maybe I was just a day early with my VXX position.

• Manipulation? In the market? By who??? Ernie V from Apple Investor has convinced me: gold and silver are in the clutches of the original banksters. I'm just watching those shiny things from the bleachers.

• CSCO, as always, had center stage going into earnings. Initially, when its numbers were announced after hours on CNBC, the stock went from 26.45 to 26.70 or so. I almost picked shares up at 26.45, but I hesitated and that was over. I didn't stick around to hear about guidance, but apparently the market wasn't pleased. CSCO dropped to 25.50 before closing at 26.18.

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