Cisco gapped up over $1 (6.5%) at the open, based on their earnings. A 3 year chart shows the breakout in 2003, the subsequent breakdown in 2004.
The stock is likely to run into some resistance at $20-21.
click for larger chart
Disclosure: No Position
Note that since I am no longer on the Sell Side, the compliance rules on posting items such as this have become dramatically easier . . .
Category: Technical Analysis
I do Larry Kudlow’s show whenever he asks, and while I am certainly not the
political wonk he is, I do keep track of the budget process. I want to see how the deficit is shrinking or growing, what changes to the tax code might be coming, and which sectors of the economy are getting a spending boost from Uncle Sam.
That’s a lot of stuff to watch — Fortunately, there’s a terrific set of charts today via the online WSJ: Crunching the Numbers (click each for larger graphics).
Gainers and Losers:
A broader view of what’s growing and shrinking in Bush’s 2007 proposal, in budgetary authority
Sources: Office of Management and Budget, AP
*Includes miscellaneous, undistributed offsetting receipts
Receipts and Outlays
A look at how the federal government is counting on bringing in revenue, and how it plans to spend it in fiscal 2007. All figures in billions unless noted.
Did you know that thee Estat Tax weas such a modest slice?