JUST IN!! The NASADAQ SURGES ON EGYPT UNREST! (EGPT)
So far today everything made sense. We had rioting and protests in the streets of Cairo (pictured) as well as US equity markets shooting up nearly .60%! The world of bizzzaro Jerry is upon us, it seems nothing can stop our markets from disregarding anything and everything in their path good or bad.
The market zombie’s around where she goes nobody knows but the guy whomever knows how large the NY fed trading account is…
Anyway you can see from the chart to the left the the nasdaq chugged higher all morning off 2255 after INTC pulled a card out of the amateur’s play book…
“Intel lowered margin guidance, raises revenue outlook, due to a chipset error. Intel expects a chipset design error with its Cougar Point series to reduce Q1 revenue by $300M and cost $700M to repair and replace the affected materials. Intel now expects Q1 revenue to be $11.7B, plus or minus $400M, compared to the previous expectation of $11.5B, plus or minus $400M.”
The nasdaq also chugged higher off the 2260 after the NQ_F opened last night without even flinching…. If we test 1300 again this week on the SPOOZ i will be simply amazed at our markets “strength and perseverance in the face of uncertainty”.. sarcasm.