Big jam job today based on (variously): rumors of Osama bin Laden being captured for the fifty-third time; the Chairman of the President’s Council of Economic Advisors, presumed to know tomorrow’s jobs number, saying “Things look good for job creation”; the boyz trying to run the shorts. I pick #3, you take your choice.
As widely anticipated, Intel finally had to admit after the close that things were less than wonderful. An inventory problem that “just crept up on them” and that “the slowdown accelerated for them two weeks ago.” Puhleeze. Don’t make it worse by making yourselves look like idiots. Do the political thing – admit you stuffed the channel in the hope that things would get better and you would not be found out. Regrettably they didn’t, and you are sorry, but you take full responsibility for your actions.
Financial Reality 