>>Where has all the analysis gone??<<
Draw a vertical line then label it either support on resistance, it doesn't matter because they both go straight up.
Analysis is getting futile. As the Briefing article said, prices are rising many times faster than revenues, earnings and sales. There are many what used to be good investors/traders that are really starting to believe that stocks are worth these prices forgetting that in a bear market, the exact opposite happens. Years from now after this all blows up, you won't be able to sell SUNW, CSCO, EMC, MSFT, IBM etc for 1 times earnings, sales or revenues. YHOO and AOL? Forget about it, you will be lucky to get a penny for a hundred shares.
We are witnessing a mass hypnotism where everyone is turning into a zombie that only knows how to buy the dip.
Analysis? The bond just fell to 6.4%, everyone knows the Fed will take back all this liquidity in approximately 1 month, people know that comapanies are ccoking their books, that future growth is slowing, employment is tighter than in 26 years, inflation is coming etc etc. But everyone also thinks that they will be the first one out the door when the music stops too. It must be a wide door. <g>
Here is the analysis, the market should be less than half of where it is now, but manias go on much longer than expected. The longer it goes, the worse the end will be. Personally I agree with many here and Favors time frame. Next summer most probably, mid to late January, possibly. A couple years from now absolutely definitely. Just waiting to see if the NASDAQ will pass the DOW first.
Good Luck,
Lee |
