Tuesday, October 21, 2008

NASDAQ Technical Picture - Another Low Volume, Narrow Range Day

A slow but steady improvement on the credit front has brought the focus back to earnings and guidance. Mixed results and/or cautious guidance along with an extended short term technical posture, led to some choppy backtracking. The good news is that after hours tech titan AAPL beat on earnings (guidance very conservative as usual) and the stock rebounded nicely. Also trading up after hours on earnings: BRCM, VMW, CREE, YHOO, NSC, QLGC.

No comments: