David Jones;
You are stating the obvious with which I fully agree. Have you noticed that sometimes, its right out there in front of you? You don't have to hunt for new answers and yet people do it anyway. With respect to SEG I agree with that too. I think we're seeing the beginning of an uptrend but that still doesn't mean that the price won't drop off precipitously, at some point but the lows will be higher lows and the highs, higher too. I don't expect the specialist to change the way he does business. Remember, I said this run up could take, as long as, 12 weeks. We are completing the 9th. week. This has been a long bull run. That too, is a good indication by itself. The 60 and 90 day moving averages have moved up from 23-24. I checked the slow stochastic indicator today and it is beginning to bottom out. So I would expect another small run up sometime, next week. However, that's my just speculation. It is now 3:55 PM ET and the stock is about 29, exactly where I guessed it would be several weeks back.
If the stock drops off next week or the week after then the next bull run will go over 30 and the drop off after that would be into the mid 20's. The Fed is behind the yield curve but the economy is very steady so, it doesn't matter much, what the Fed. does. Asia sucks. They are as corrupt there as the South Americans are. Its a grab bag. They can't change their cultures but we don't have to float them either. Our theory is, if we develop these countries then they will end up being good customers for American products and we expand our world markets. Bullshit. Have a good weekend.
PHOTOMAN |
