We may gap up above $88 on the open tomorrow, but the amount of stock available between $88 and $93 is quite awesome. If you remember, before the big break of 18 points in two days (fromm $88 to just under $60 or so), the stock was churning between $88 to $93 or so for what seemed an eternity. The volume at 4 MM shares is not excessive yet, so, despite that supply, we seems to be OK for a more sustained run from here to the end of the year.
I know Don, will disagree with me again, but I believe that we are soon going to start and feel the impact of excess liquidity on the markets in general (assuming AG does not decide to counteract this impact) due to the relaxation on the Japanese postal system. I have not heard AG worrying in public about this, so, maybe he does not know yet (g), or maybe, he is in Don's camp, believing that Japanese conservatism by itself will stem the tide of this liquidity flush.
Zeev |
