MRVL

So, good news and bad news.

Turns out I was right about MRVL beating analyst expectations. In fact, they did so in convincing form. Unfortunately they followed their outstanding earnings report with higher cost expectations than had been previously stated. These two events led to an instant rise in price to the tune of as much as 9% followed by a slide which is currently down around -5%. Deutsche Bank still has a PT on this one of $16 but I was hasty with this call--no doubt. Unless you got out within an hour of the close you lost money on this one and that is certainly not a big enough window to warrant this type of risk.

This market is absolutley terrible and I think a move to cash is wise in the short-term. If you followed my advice than half your principle investment is still in APA--move it too. The market will turn, but tomorrow is not the day.