Thursday, November 11, 2010

Teflon Strength

When a tech bellweather such as Cisco Systems (CSCO) not only has little effect on the broader market but even TECH stocks, you are in some amazing conditions.  I said it would be abnormal for yesterday to mimic today, but indeed abnormal is the new normal.

Side note - I had no idea how dependent CSCO was on government expenditures (most of its shortfall was from state government spending it appears). Says a lot about the state of the economy when government spending is such an important source of income for even the biggest of companies. 

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