Market is on track
- Posted by vinaydh
- on January 13th, 2010
I thought that GOOG news about pulling out of China might derail the rally but it didn’t. It seems most of the sell off in GOOG was already over by the time we ordinary mortals came to know of the news. Market is on track to go over 1160. Earnings season kicks into high gear with INTC earnings tomorrow but heavy weights like AAPL and GOOG report next week.
What surprised me the most was the action in GOOG over the last few days? It was a straight line decline with no apparent news out there. Now we know the reason behind it. It was the China news. The attack on their infrastructure happened some time in Dec. It’s pretty clear that someone knew about this impending news. Look at the volume in the last few days. The smart money held onto it until the Nexus announcement and then dumped it en-masse. There are always folks who are in the know. I use theflyonthewall for getting instant news but unfortunately it too can’t report until something is out. If you want news before it’s made then you need connections in high places.
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