Can't decide, although off the cuff we look oversold short term, so we could consolidate for a bit right here. Then again, we could keep falling down to the 200day for support. I think the unknown thing is the quake situation. It reminds me of last year, when they all said Asia wouldn't be too bad a problem and then whammo! But, this time I think they are right that it won't be too much of a problem, except it will be used to pull the semis back until they want to run them again. And, now add Japan's nuclear accident.
Frankly, I think there is so much opportunity in the Dow these days, (with what? 70% of the stocks under their 200 day moving averages?) that the money has just got to go there for a bit. Mine has. Just don't ask me in what I invested because they are so out of favor until today that I will look stupid. Maybe I will be glad to tell you after they come back about 50% from their 52 week lows. <gg>
Basically, I can't imagine the Naz going to new highs while the Dow breaks further support levels and crashes as much as I can imagine the Dow rallying a bit here while the Naz consolidates or pulls back to its 200day. Just my guesswork, who ever really knows?
Whatcha think?
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