it’s always something to start a catalyst. It could be anything. I bet the market knows something and using GILD as an excuse to push it down.

Tbh they were probably setting their traps first

That’s when it was mentioned on CNBC and the algos reacted immediately

Its gotta be that or something else we don’t know yet I reckon…any ideas on your end? That was crazy

That news came out 12h ago. Did the markets just now digest it?

Exactly! Gilead trial was a dud, market reacting to that news

Texas Instruments (TXN) reported better-than-expected first-quarter results, and provided a wide-than-usual guidance range for the second quarter to reflect the uncertainties related to the Covid-19 pandemic and the subsequent economic downturn.

For the quarter, the chip maker posted revenue of $3.33 billion, down 7% from a year earlier, but above the Wall Street analyst consensus at $3.17 billion. Profits were $1.24 a share, well ahead of the Street at $1 a share. The company said it repurchased $1.6 billion in common stock in the quarter.

The company said its analog component revenue was down 2%, while embedded processors were down 18%.

For the second quarter, the company projects revenue of $2.61 billion to $3.19 billion, with profits of 64 cents to $1.04 a share. Previous Street consensus was $3.15 billion and 99 cents a share.

“With a Covid-19 recession likely upon us, and with reduced visibility of customer demand, we are using the 2008 financial crisis to model our second quarter outlook,” CEO Rich Templeton said in a statement.

In late trading, the chip maker’s shares are up 1.6%, to $108.54.

https://www.barrons.com/articles/texas-instruments-stock-gains-as-earnings-top-expectations-51587502451

That’s my read.

TXN and STM both had pretty good news on their earnings and actually had a positive outlook moving forward. I can only assume INTC will follow suit.

Not sure how fast this will hit the supply chain but sometime his year they will start building the intel-less macs. So that must hit their forecast for the year. However they will most likely pull their guidance. This “pull the guidance” business is like a free pass. Blame it on the virus.

It’s funny how Bloomberg published an article today saying that Apple is planning to move towards their own CPU by 2021 and ship first macs using Apple’s CPUs this year. Not particularly new as these rumors were circulating for at least 6 months now.

https://www.bloomberg.com/news/articles/2020-04-23/apple-aims-to-sell-macs-with-its-own-chips-starting-in-2021

It looks like Intel pop’d on there last earnings announcement. This is risky. I just wish they don’t withdraw their guidance and give us some real numbers where the economy is headed. If they do that then I’d bet it gaps down. Their last short interest reported on March 31st was only 1% of float so that could mean that a squeeze is off the table. To me that is bearish. Also as china slowed down first and shut down all their manufacturing so INTC may have been effected earlier so maybe that will show up in this report. It’s so complicated. It’s easier to just look at the TA and trust it?

As of now, medium to long-term, I think it’s a bear market. As for the short-term, Intel earnings could sink, or pop, the market. It’s a gamble. I’m not a gambler, therefore, I’m out of my shorts.

The other chip makers all had good reports so far and the market doesn’t care about guidance so I bailed on shorts for now and went 50% cash and went with TECL looking for another gap up tomorrow. Good luck

Ja. It’s tempting to buy more shorts, as the market goes higher, but no amount of bad news seems to be breaking this market down. You can only withstand so many cuts, before your trading account gets cut in half. I’ll save my capitol, and live to fight another day.

You need to make your own decisions based on what you think the market will do and your own risk tolerance. He’s provided all of the necessary information for YOU to decide. He’s not your portfolio manager.

Either that or it’s the feared hyper-inflationary period. Or maybe even a period that we have no conception of, never discussed before, hence the Fed experiment–FrankenFed…”Roarrrrr, er, I mean, brrrrrrr….”

He does. Nothing has changed technically in the bigger picture.

Whatever time frame you’re looking at. Daily charts take days to change. Hourly charts take hours to change.

I believe intel will benefit from both datacenter capacity increases and end users refreshing there hardware. All the remote work will be positive for Intel guidance

I know you’re not asking me. At least I do.

Look back the bull market, even 2018 Dec rally, stocks never go up/down 2-3% a day for weeks. Since March lows, can you find a day where it changes less than .5%?