Markets Swing
One more victory for the matador, last week, as the snorting bull charged fearlessly, right into the sword. Some people think that the bull may also have been snorting illegal substances. Cisco’s modestly upbeat announcement, hedged by a lot of covering statements, was hardly a clear declaration of the long-expected turnaround in tech spending. Remember -- we need to see firm indications of sales growth, not just another spate of cost cutting. But creeping greed may be edging out fear. More, suicidal bovines are sure to charge into the ring soon to meet their fate. The herd instinct is natural among fund managers, including the hedge crowd. And, it will be a little while before they gore the matador. Still, in swinging times accomplished traders can make good money, betting the right way.
