The Guardian (and all the other major news outlets) continues reporting on DSK’s accuser; she’s not in it for the money. The lawyers, PR people, and talking-heads are following the roadshow of Nafissatou Diallo. It’s her turn…
Goldman Sachs (GS) upgrades Cisco (Street Insider)? We are starting to see concrete actions from Cisco, but with the Goldman upgrade I’m sceptical, again. This week $JNPR took a good 10% hit so what’s the strategy here??? Large institutional investors have a particular interest in seeing CSCO start to move. 66% is institutionally owned. Guessing 15 is the magic red-flag number.
We should have the result before the European markets close and at the opening of US markets. I think we’ll see some strong pull-back almost immediately after the vote.
“…there will still be a risk of lawmakers rejecting detailed austerity bills in votes on Thursday on the implementation of different elements of the plan, such as tax rises and the sale of state assets.”
If that pull-back doesn’t happen today, we’ll see it happen before going into the weekend. I’m cautious today, maybe too cautious.
I’m concentrating on $GS and $GOOG today. Both of these charts show strong decending channels.
Goldman on increasing volume.
There’s also some chatter about transitioning to consumer staples, I think this is also worth some study.