Sentiment on Intel and Microsoft is somewhat negative. Oracle Corporation (NASDAQ: ORCL) is reporting later today and whisper sentiment is not good. When database sales crash, so goes enterprise software.
Bloomberg picked up on the "negative basis" trade and the new Wall Street reality caused by the CDS mess -- many bondholders actually want to run companies into Chapter 11 in order to collect the CDS. The trade is basically flawed, however, in that it assumes that CDS holders will/can actually fulfill obligations on these quasi-insurance like pieces of paper. Note to negative basis traders -- enough of you tee this up, and the CDS market goes belly up.
Alex Salkever is the Director of Research at Piqqem.com, a stock prediction community that leverages the Wisdom of Crowds to make better stock and sentiment predictions.
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