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Remember back in 2000 when the Bubbleheads told us Cisco “Beat By a Penny” Kid, beat estimates by a penny and the market went CRAZY and somehow that made sense? In those days it all made sense because every single one of us Bagholders held some Cisco “Beat By a Penny” Kid didn’t we? You couldn’t own stocks and not own Cisco in those days. Janus 20, and all the tech funds all had Cisco. We were all making a very, very large fortune in our somewhat demented minds at the time weren’t we? Cisco “Beat By a Penny” Kid, Intel, Sun Micro, Qualcomm, Good Ole Softie, they were the Nifty Fifty of 2000.
It certainly didn’t matter that Cisco “Beat By a Penny” Kid used Proforma earnings that didn’t include salaries, rent, or material because their Arthor Anderson auditors had determined these were all one-time expenses, because they were only paid once a month. Nothing mattered, as long as Cisco, Beat by a Penny Kid, was beating by a penny in those days meant everything, of course increased revenue from companies that were just purchased and forecasts calling for continued beating earnings by a penny and continued revenue growth for as far as the eye could see helped as well.
Today Cisco “Beat By a Penny” Kid, ended up six tenths of a point ahead and had a 3.2% spread from top to bottom for the day. THREE POINT TWO PERCENT SPREAD, holy shit, I lost and made more money today then I have done in a long, long time. After-hours Cisco “Beat By a Penny” Kid is up almost 6% for an additional 9% spread today. If you count after-hours today Qualcomm had about an 8% spread. As far back as I can remember, whenever you get this much volatility during earnings the market either breaks completely down or goes for a very large Moon Shot. The weak hands are getting taken out back of the woodshed and having the crap kicked out of them. It doesn’t matter if you’re long or short, if your hand is weak you’re taking a beating. Wall Street and the Casino are firmly in control of direction, so it’s all a matter of which direction they want to go, I get the feeling some of these Wall Street firms view some of these upstart Hedge Funds as the competition. Wouldn't shock me to see Wall Street trounce
the crap out of these Hedge Funds by taking the market higher.
Not sure what it’s going to be, but we are going to get some serious direction pretty soon. Wall Street and the Casino has to entice Joe and Jane gambler to come back into the casino and the only way that’s going to happen is for there to appear to be some million to one shot payoffs going on. I’m beginning to hear the sound of coins falling into slot machine payoffs now. Ding, ding, ding, ding, ding.
What a wild day, between the Fed and Cisco and at first when Cisco announced it Beat By a Penny and dropped 1% and now it’s up almost an additional 6% after-hours. Unbelievable to think that maybe just maybe those Cisco “Beat By a Penny” Kid days are back again.
It certainly didn’t matter that Cisco “Beat By a Penny” Kid used Proforma earnings that didn’t include salaries, rent, or material because their Arthor Anderson auditors had determined these were all one-time expenses, because they were only paid once a month. Nothing mattered, as long as Cisco, Beat by a Penny Kid, was beating by a penny in those days meant everything, of course increased revenue from companies that were just purchased and forecasts calling for continued beating earnings by a penny and continued revenue growth for as far as the eye could see helped as well.
Today Cisco “Beat By a Penny” Kid, ended up six tenths of a point ahead and had a 3.2% spread from top to bottom for the day. THREE POINT TWO PERCENT SPREAD, holy shit, I lost and made more money today then I have done in a long, long time. After-hours Cisco “Beat By a Penny” Kid is up almost 6% for an additional 9% spread today. If you count after-hours today Qualcomm had about an 8% spread. As far back as I can remember, whenever you get this much volatility during earnings the market either breaks completely down or goes for a very large Moon Shot. The weak hands are getting taken out back of the woodshed and having the crap kicked out of them. It doesn’t matter if you’re long or short, if your hand is weak you’re taking a beating. Wall Street and the Casino are firmly in control of direction, so it’s all a matter of which direction they want to go, I get the feeling some of these Wall Street firms view some of these upstart Hedge Funds as the competition. Wouldn't shock me to see Wall Street trounce
the crap out of these Hedge Funds by taking the market higher.
Not sure what it’s going to be, but we are going to get some serious direction pretty soon. Wall Street and the Casino has to entice Joe and Jane gambler to come back into the casino and the only way that’s going to happen is for there to appear to be some million to one shot payoffs going on. I’m beginning to hear the sound of coins falling into slot machine payoffs now. Ding, ding, ding, ding, ding.
What a wild day, between the Fed and Cisco and at first when Cisco announced it Beat By a Penny and dropped 1% and now it’s up almost an additional 6% after-hours. Unbelievable to think that maybe just maybe those Cisco “Beat By a Penny” Kid days are back again.
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