THE OPEN

As we write this:

TESLA target lowered by CITI…who has been bearish and wrong for a long time on the stock…but it is still down $13 to the 50 day average. We shall see if it holds.

SEMIS bouncing…they are oversold after recent smack down.

OIL lower…better action last week but we still say avoid.

The boys own a ton if the TECH/INTERNET/SEMIS and all that stuff. Just remember that. Bounces will happen from oversold conditions. The NASDAQ/NDX-types are now deeply oversold. Be prepared.

Earnings start up next week.