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2006-05-30 :: Post Holiday Selloff Likely

Asia and Europe have been down Monday and Tuesday, and S&P Futures are down, so its likely that we’ll see the US markets open down today.

I’m still looking for my buy-in point for JOYG as well as trying to make a decision on BRCM, MRVL, INTC, and TER (see last week’s blog entries).

JOYG had its bounce back after the big fall and is almost back to its pre-drop level.  It will likely pull back again and that’s when we’ll jump in.

The options backdaters above are a tougher call.  None of them have been charged with it, and they may never be.  However, the pattern in their options issuance and their stock price is going to bring a lot of scrutiny to them, which will keep their share prices under a cloud for the forseeable future no matter what their earnings stream looks like.

More later as the markets beging to move.

Mark