..winds of change?

Winds of change?...on any given day that weak news breeze would not have moved a leaf on a tree.  The weak breeze, the ones given as explanation everywhere is the JPM estimate knock down of BIDU and this Weber's comments from the European Central Bankl on raising rates.  Okay..since when is a 2mln cut in revenue estimates in one individual tech stock enough to cause the NASD to drop so steeply.  This wasn't a downgrade, they didn't lower EPS, they didn't cut the $400 targets they set in early October.  They actually gave a few highlights and said the revenue loss was due to what was already known in early September as a slight possible short term negative.     Now, to this Weber guy.    Going through the Financial Times here in Europe, there is not even a mention of this, okay one ...one line on the last page.    So what happened?.   Simply,  we've been talking about the divergence in volume to the rising indices as a concern.   You can't keep this action up without a negative tone setting in if it continues.  Add... the fact we had possibly reached a short term tree top based on so many consecutive up days,  it was inevitable to see a correction sooner than later with a shake of that AAPL tech tree.    The surprise was the magnitude, the steepness, the speed of the snapback, especially in these momentum big caps.   On the other hand is it really a surprise to live this drop?.  Not really, if you understand the game and aren't blindly involved in it.   Momentum stocks give it ,  but they also take it back ruthlessly.    If you're here, you know this quite well as you've probably been a victim more than once and it doesn't matter if it's a momo shipper or the headline grabbers of AAPL and RIMM.    Live and learn.    Same holds true with stocks.   Maybe some of you were beaten up yesterday, but you should only blame that greedy bugger that sits on your shoulder as you sit in front of your trading platform.   We've had an awesome week here from the STV, VMW, FREE and the shippers to name a few.   Plus...the morning was great, more of the same and some new recent additions like MHJ to 16+ from 13 last week, GLDN to 68, CETV to 103, EDU to 70, all spiked and we had one for the scalpers in HSWI for a possible 20-25%.      But wait...ask yourself the question why were the markets up in the morning?.   Did the blue light special just go off?.    Think about, we were up on Wal-Mart!.   Since when are we gauging this market on this relic!.  This is froth when see the whole market gap, run up the Wal Mart aisles!.     Simply, 'we' the market set ourselves up,  we ran the market blindly yesterday and the days leading up for a mighty profit taking reversal.   The suspicious thing of this is it comes just days before the big tech stocks report.    A coincidence?.     Maybe a pullback, correction now so the big boyz get some cheap now and then rally us into Santa's lap?.    The idea of the indices going straight up from end of summer after all the turmoil till the end of the year, just doesn't fly if you are at all realistic and sane.    So just thinking out load that this is a short term ...much need breather to fuel up.   The DJIA respected 14000 as it did last week,  if we go below and start holding below 13950, we could be in for a further ride down.    Lots of possibilities now, lots of spin..lots of noise.   It's all about the big caps techs and the reports coming up shortly.    You just saw what a little noise can do yesterday, close your eyes and see the damage that can be done if these guys start disappointing.    Next Friday is the 20th anniversary of you know what!!!!!BOO-HOO!!.    There is no harm of staying clear until you know and see more.   Much easier to jump on a moving bus than sitting in one and waiting for it to move in the direction you want..we all want.   There is always 'only' a need to take profits in stocks.  If you already blew this opportunity for yourself this week,  you might want to keep a few pieces to possibly catch a bounce.   It's up to you.   Just know your stocks, know their capabilities...their stress level, their sensitivity to market conditions as they arise.

Also note, WBuffet is selling some of his large China stakes. Oh boy.   Is this more of the political angle involved with some of his holdings or is this what his view of China is in general?. hmmm.  Surely, the spin will start from this to scare you silly.

Tech stuff this am..ORCL M & A news,   AAPL tgt raised by MS,     IBM estimates raised by JPM before next weeks report...as if yesterday's tech wreck didn't happen;).