Gary,
Honestly, I don't think so, but I also expected to
see stronger upside follow through. I think if we
test these lows, and at this point I still don't
think that will happen, it will only try to test
them and then continue higher. But, I don't see
6500. BTW, I also initially thought that late
October would be the time to buy around 7200 on an
intraday spike down, maybe it still might be, but I bought on the day of the first key reversal into good support about two weeks ago.
And now, there are too many gurus touting a low in
October which makes me think it won't happen. The
majority of gurus' consensus is never right. I
think they just hear each other talk and then
repeat what they hear because it sounds in vogue
and cool at the moment. This may just be my bias
because I don't hold any guru in reverence.
The bottom line? I've been long now for a few
weeks and see no reason to sell at this point. The stocks I picked are doing well and some are near
their old highs, some are near their recent lows.
I suspect it will get choppy for a while, but I
believe that after these markets shake off the
jitters, the direction is up from here. BWDIK
GZ |
