March 23, 2011

We are long on Adobe (ADBE) from $25.66. We have already taken profits on partial position, putting us in a position to take advantage of any post earnings major weakness . Those not already long Adobe may take advantage of any weakness to open a new position.

Adobe reported earnings in line with consensus, but reduced revenue forecast for the second quarter by $50 million due to projected weakness in Japan. Prior to the earnings, it did not take a genius to predict reduction in revenue projections in Japan for the next quarter ‘”after all post earthquake buying software and related services for the web is not a priority in Japan.