RBC notes that despite the choppy tape and the recent slide in the shares, their checks on Cisco (NASDAQ:CSCO) indicate strengthening trends across most of the company's business segments.
Calls himself notes that this isn't his take and it would just be a trade and this is probably why -
I don't know why but every chart I look at lately on the 6-month weekly basis seems to be rounding at the top. And they all seem to have that little dip about 5 or 6 weeks ago and that peaky looking candle during the week of 2/05. I still think we have a ways to go on this slide and the last couple of days may turn out to be just a normal dead cat bounce.
We may go down and down hard next week. Emphasis on the "may". But still I'm going to start looking for exits on some of my holdings tomorrow especially the weaker ones. I'm not afraid of a gentle decline or even an orderly but hasty decline - what I hate are the gap downs.