I was counting on MSFT to drop the hell dead so that it could lead the stock market lower. Alas, it spent the entire week diddling a 462.26 voodoo number where I still expect the the biggest-cap stock in the world, to make an important top. Although it was satisfying to have nailed the top, within a few pennies, of the vicious short squeeze that followed May 1 earnings news that surprised no one (except shorts), watching the stock go all feeble and aimless since then has been an ordeal of patience. My hunch is that new all-time highs are coming, although I will be very careful not to assume that this will pull the broad averages along with it. In the meantime, I’ll recommend bottom-fishing at 451.18 with a tight stop if the opportunity arises.
MSFT – Microsoft (Last:461.10)
