Lee, interesting that no one is mentioning that the DOW transports will have to go up 50% from here to make a new high. Right now, I believe we are in a "topping process", where the "hot sectors" will still make highs, but we are preparing foe a severe drop in 2001. I think that because of the reconstruction of the DOW to include a lot of "todays economy" (INTC, MSFT etc.), it will make a new high as well later this year, but that would be a parallel to the nifty fifty of the early seventies, IMHO. FWIW, I have potential tops just under 13,000 ( a good 30% or so from the roughly 10,000 where I think the current correction will be halted, time to get aboard again) for the DOW and somewhat above 4800 for the NAZ, but unless you are in the then hot sector (and I do not mean AMZN), you may not feel it.
Zeev
PS, thus, to LG's request for more bullish posters, that was a bullish post (VBG). |
