Don,
The sell-off's at every point up are really amazing to me. Is there a sane person who is not 100% sure nasdaq will go over 2000 this year, and possibly a bit higher, like 2050 ?
As an aside, I do not consider our sporadic-posting shorts to be playing with a full deck - market wise.
So why the relentless selling at every new high ? Why not wait a few days and sell 10% higher ? Do the people who sold down from near nas 2k a month ago, down to 1800, do they now consider themselves smart ? Yet someone insisted on emulating them today.
Anyway, we can't understand what makes people sell. However, we can be sure they'll run out of shares, and move on.
I am expecting another positive employment report this month. The shopping season is going well, I hear. So maybe the nattering nabobs of negativity will succeed in selling down a couple more days. But nas 2k is coming. Hopefully by next week.
Unfortunately for me, my main stock, WDC is down 10% in the past 2 days. Something about fear of future pricing pressure. So I am not enjoying the advent of 2nd coming of 2k. But maybe the rising tide will lift my boat too.
Good luck to you. And I hope you're not short anything at this time.
Sarmad |
