From gem-x thread. Boy, has irrationality reappeared again.
Looks like I'm raising my NASDAQ target to 2710 in 2-3 months..
Come to think of it, we've entered WAVE 3(!!!)...
Wave 3 rallies, are like I said in the past, the strongest, most powerful waves in a 5 wave bullish sequence.
Volume expands dramatically, as does breadth, and optimism starts to grow, and solid fundamentals return. The breakout of the optical sector is
especially noteworthy, because every company in the sector has blown up and been on a free fall since the April-May fakeout rally. During that
particular rally, they all failed to join in and continued plummeting. During the October rally, they all failed to rise, and were trapped in a sideways
basing pattern. Finally, they've all started moving up which is a very very good sign. I thought we were entering into a wave 5, but with these breakouts,
this is not a sign of a top, but a sign that the rally has JUST STARTED. If this is the case, I feel a little more comfortable re-stating my target for the
NASDAQ to as high as 2710 by year end, and by mid-year next year, the NASDAQ could ignite to over 3500.
A bubble again? Sure looks like it, but who cares when we're making money!! |
