My Stock Winners

Bullish Sector trading above its…
20-day Moving Average: YES
50-day Moving Average: YES
100-day Moving Average: YES

Sentiment:The networking sector’s sentiment is showing some signs of increased pessimism in the wake of Cisco’s (CSCO – 26.93) quarterly earnings announcement. The sector’s SOIR percentile rank increased to 39 percent last week, indicating that bearish put option activity has grown significantly. Analyst recommendations on the sector remain well below 50 percent “buys,” adding to the bearish sentiment read.

Outlook: Driven higher by CSCO’s blow-out earnings results, the AMEX Networking Index (NWX – 252.47) is sitting near a six-month high. Due to the strong price activity and negative sentiment, we remain bullish on the sector.