Large-cap tech stocks remained weak ahead of Intel's earnings report. Semiconductor stocks were particularly weak. Semis down almost 4% in its worst single-session percentage loss in three months. Intel lost 2.5%. Market breadth was negative. On the Nasdaq, decliners topped advancers by nine to four. QQQQ's implied volatility inched higher. We expect more volatility today.
Wednesday, January 13, 2010
Retreated on weak Alcoa earnings
Large-cap tech stocks remained weak ahead of Intel's earnings report. Semiconductor stocks were particularly weak. Semis down almost 4% in its worst single-session percentage loss in three months. Intel lost 2.5%. Market breadth was negative. On the Nasdaq, decliners topped advancers by nine to four. QQQQ's implied volatility inched higher. We expect more volatility today.
