A Strong Day
16th April 2008
INTC earnings started off the day with a bang. After-hours today, IBM kept the party going. Anyone playing short should use a stop with a close in the Dow above 12,750. My feeling though is that we are getting the best of the earnings right now. There are more negative ones to come especially with MER before the open tomorrow. The curve was all over the map today with the fly(5-10-30) closing +4. Oil is relentless and closed up another buck.
BA