Tech Comeback On Oil Drop

The major stock indexes have staged a sharp comeback this afternoon as spot crude sold off sharply from it’s intra-day highs. The NASDAQ Composite has actually rallied into positive territory on the back the leading networking stocks such as F5 Networks Inc. (NYSE:FFIV), and Juniper Networks Inc. (NYSE:JNPR).

Cisco Systems Inc. (NYSE:CSCO) which is considered the leader in the networking sector still remains a laggard by trading lower on the session. Cisco Systems stock is trading lower by 0.04 cents to $18.25 a share. This still stock has been in the dog house since it reported earning on February 9, 2011. Outside of Cisco stock being oversold on the daily chart there is very little reason to own this name at this time.

About Nicholas Santiago 575 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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