Doji Star confirms my feelings regarding a short-term top. If networking and semis are selling off, it won't be long before the rest follow. Biotech still my favorite on the long side.
Companies moving in after hours trading in reaction to earnings: Trading Up: FIF +7.0%... Trading Down: LTRE -5.1%; SNX -2.8%... Trading Up: SCON +20.5% (signs term sheet for joint venture with Hunchun BaoLi Communication); DDSS +11.8% (provides update on U.S. regulatory process for once-daily Tr amadol; Co believes that it has demonstrated the efficacy and safety); KEX +10.2% (sees Q3 EPS above consensus); AKNS +9.7% (partners with Suntech to manufacture new solar panel)... Trading Down: LOW -5.9% (guides FY07 EPS to low end or slightly below prior guidance); PANC -4.8% (announces resignation of Peyton Marshall as Executive Vice President and CFO); TGT -4.4% (lowers September Comp Guidance); HD -2.0% (in after-hours following cautious LOW comments/guidance); BKRS -1.4% (lowers September comp guidance); CNQR -1.2% (4.7 mln share secondary offering priced at $28.50 share - DJ ).
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