Don, some of the reasons for this buy the dip mentality is the goldilock economy, but with the CRB getting a whiff of life in it, labor tight, some temporary (at least i think so) weakness in the dollar, and the overblown internut sector, we could have at least a sharp decline, maybe not a long term bear, but still painful. I still have the end of the year and beginning of next year as very bullish due to excess liquidity (I know you do not agree with my Postal thesis either <VBG>). The internut weakness could nucleate a mini bear all by its own, however, since the current value of this sector, IMHO, is still few tens of billions above "fair value" and if this sector get cut to size, it will have impact on the rest, so an outside possibility of a severe hair cut is there, IMHO.
Zeev |
