Thread: Intel and Tom

I may be mistaken, but I thought it was the June jobs report that started the July slide. But that is basically your premise. I don't know about the report of one company being the lightning rod for a slowing economy. The semiconductor index has shot up 11% in the past week or so. Maybe something positive is brewing.

Yes the major brokerage houses down graded the SOXX sector. That means the shorts cover which causes a "dead cat bounce".

Major resistance moving forward:





tsptalk wrote:

I may be mistaken, but I thought it was the June jobs report that started the July slide. But that is basically your premise. I don't know about the report of one company being the lightning rod for a slowing economy. The semiconductor index has shot up 11% in the past week or so. Maybe something positive is brewing.

Funny the June job report was 112K jobs created and that was a bad report, August the report was 144K jobs created and that was a good report. Funny how expectations have dropped so far, so fast.

MT



tsptalk wrote:

I may be mistaken, but I thought it was the June jobs report that started the July slide. But that is basically your premise. I don't know about the report of one company being the lightning rod for a slowing economy. The semiconductor index has shot up 11% in the past week or so. Maybe something positive is brewing.

Not true.

June's initial report was 78k, and it was recently revised up to 96k. July's initial was 32k and was revised to 73k. Add the two together, and you get the rough equivalent of August, which is why the August report was viewed more positively.

My information wastaken from smartmoney...

http://www.smartmoney.com/thealmight...r/?nav=LeftNav

"...June and July's gains were revised slightly higher: June added 96,000 jobs instead of the original estimate of 78,000, while July added 73,000, instead of the originally reported 32,000. The unemployment rate ticked lower to 5.4% from 5.5% in July."