Dell Joins Cisco in Seeing Global Slow-Down
Dell reported good earnings today, but included this warning:
“The company is seeing conservatism in IT spending in the U.S. particularly with its global and large customers…”
Three weeks ago, Cisco’s earnings report showed deceleration in the global economy. See my original post here.
If you look at the QQQQ chart going back to the beginning of the rally in October 2002, you will see a rather large dip each summer. And those were times when the economy was strong. Now we are heading into the “Summer Tech-Stock Selling Season” with a weakening economy. In case you can’t connect the dots, I will do so for you:
Run from tech stocks! RUN!
Don’t say I never warned you…
(Note: I am short tech stocks via QID.)
July 7th, 2008 at 4:44 pm
[...] no way the Qs can sail along as the rest of the market sinks. So, let me take this opportunity to quote myself 5 days before the market peaked on June 5th: “Run from tech stocks! [...]