It seems things are turning worse for the technological sector. Well, our market sentiment indicator wins the day again! Did you remember we predicted the start of the tech sector downfall?
Check our past article on 8th October 2012:
We warned about investing in tech stocks as our powerful sentiment indicator told us that it has turned bearish! Even I am amazed by our sentiment accuracy. It is a few days before tech stocks really goes down.
This is even before the recent poor earnings announcement from all the tech companies. Our market sentiment indicators have been right again!
We have so many friends that tell us that they read our blogs everyday. And some can't make investment decision without looking at our blog.
For this, I am flattered, and we hope that we can give you better tips and warnings in the years ahead. Our mission is to help the public giving better advice than media and newspapers, which often is WRONG.
Btw, fundamentally US tech stocks remain weak and unless APPLE and AMAZON proves better earnings, we encourage all to stay away from this sector!
Intel, IBM, Google, Avnet have all proven to Wallstreet with their LOUSY, really poor earnings this season.
People are worried about APPLE earnings next thursday! That is the reason for the selloff for apple shares today too. Down more than $10.
And this worry won't end unless Apple proves itself next week. Hope it at least put a stop to the landslide in Nasdaq index and tech sector in general. Apple has the influence, and I feel all these tech stocks miss has set up the best opportunity for Apple to shine now!
In fact, Apple should count itself lucky. The more worse off about the tech stocks, the better it is for its earnings. Even if Apple just meet the expectation of Wallstreet, this stock can still advance now. We are just worried it miss a lot again.
To sum it up, DOW and S&P500 is still in the green in October. So it is still not bearish yet. Only Nasdaq is doing poorly this month.
We continue to remain bullish this 2-3 months, mid term wise. You may want to pick those stocks that are good with the earnings.
In fact, if our forecast are correct, we even think that tech stocks should come back for a good run in november ot december, near the christmas!
Get ready for the tech and bullish run once this selloff is over!