Cisco Technicals

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

Csco_q106

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

Consumer grows increasingly levered

Category: Retail

The Risk to Equities from Rising Rates

Category: Federal Reserve, Fixed Income/Interest Rates, Investing

iPod Price Cuts

Category: Music, Technology, Television

Still Short Gold . . .

Category: Commodities

Government Budget Number Crunching

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).

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Gainers and Losers:
 

A broader view of what’s growing and shrinking in Bush’s 2007 proposal, in budgetary authority

Infobudget06bigpic

Sources: Office of Management and Budget, AP      
*Includes miscellaneous, undistributed offsetting receipts

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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.

Infobudget06receipts

Did you know that thee Estat Tax weas such a modest slice?

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Read More

Category: Economy, Politics

Unemployment Levels and Labor Participation Rate

Category: Employment

State of the Union: Not Very Happy

Category: Politics, Psychology

The Street Get Inflation Exactly Backwards

Category: Commodities, Employment, Inflation

Chart of the Week: AVERAGE HOURLY EARNINGS

Category: Employment, Inflation