Tuesday, February 5, 2008

Cisco's earnings

So we had a leak of the non-manufacturing index, and weak overseas markets, and the early release isn't pretty: Non-manufacturing 41.9 versus 54.4, and employment 43.9 versus 51.8.

The futures are down big. -150 on the Dow, -20 on the S&P. Buy the dips and sell the rips until it doesn't work. I'd buy this dip, and take CSCO (23.53) right here which reports after the close tomorrow.

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