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