The earnings announcement stream continues. Intel posted EPS of $0.33 vs $0.28 consensus. Revenue at $9.4 billion down 7.8% compared with the same period last year. The consensus was at $9.06 billion. More from Reuters: Intel quarterly results beat Street. The earnings season is proving to be what I wrote earlier “better than expected” earnings on cost cutting. It can’t go on indefinitely, we have to see some growth in revenue.

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Markets are feeling nervous, I’m feeling nervous. VIX is at the lower bottom of the short term range, it looks it could stay in the range. Gold is hitting new highs today, it’s overbought a little, maybe some consolidation there needed if it is bound to stay at today’s levels.

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