Not sure if CSCO's guidance was leaked, but the QID was up over 2.30 on no news. There was weakness in 2007's highfliers as CME dropped 100 points today, RIMM dropped 4 points, and AAPL down 7, and AMZN another 3.5 to a new 52 week low.
After initially dropping .50 before the earnings announcement, CSCO rose .75 before the actual conference call. As CEO, John Chambers spoke, the stock began to slide as he warned of their forward guidance.
Not having access to a terminal, traded QID pretty bad given the circumstances. Ideally, the 2nd purchase should have been around 51.90 and the 3rd around 52.90. A 4th would have gone around 53.90 and the 5th and final one around 54.90. But at least we have two purchases and looking to be a decent day for us shorts tomorrow. I'm a little worried of whether we could rebound to another Fibonacci level but I'll take it day by day and hope there are more negative catalysts to keep the QQQQ moving downward.
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