Friday, October 10, 2008

IBM's pre-announcement

IBM pre-announced earnings Wednesday night, and the stock gapped up yesterday to 95 before selling off. IBM still pretends that the dollar isn't affecting them, though it lopped off billions in revenue.

I don't buy their nonsense. When companies pre-announce to assure the street, you can be assurred that their forecast is wrong.

Listen to what the tape says, not what the brass of these companies say.

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