John Chambers is the biggest sandbagger known to the market (well, maybe with the exception of Steve Jobs). His ego insists that he prognosticate on the state of the economy every quarter and the media just eats it up. By talking down his book so that he can be "successful" later, he has been taking down the entire sector - the sector he sells too.
Give me a break. If tech is an indicator, it looks like we will retest the low. Tomorrow will be ugly. Hide the women and children; the traders plan to rape and pillage.I am planning on buying protection at open, dumping any calls and riding out the dust up with my stocks at this point. This is short term and was a very real possibility, but I had hoped that it would be averted.
It is almost over and I truly believe that technical traders will jump on the retest near the bottom. Shorts and weak hands are selling, in my opinion. The buyers are just nowhere to be found.
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