Cisco thoughts and a chat at 2pm EST

Don’t forget to meet for today’s anything-goes chat at 2pm EST on the site.

The markets are trying to steady themselves down 2% plus on the day. I’m not doing any trades so far today. Been asked a lot about Cisco into their earnings tonight and my short answer is that I don’t think we’ve got much of an advantage there right now. The markets seems to have anticipated what should be a decent report as Cisco’s recently rallied up from below $15 to its current quote.  We’ve made some big money trading Cisco when the expectations were out of whack heading into the report, but that’s my point this time — I’m not sure the expectations are out of whack, which means it’s going to be hard to game tomorrow.  I’ve trimmed down some Cisco as noted of late and am not making any moves in it as a trade on earnings.

It’s tough out there. Don’t fight it.