Alan, i expect nas to continue selling off and am looking for a monday morning washout to cover my short, ask GZ about the tyx, he is probably the best bond trader on SI.
It is interesting to match up a rate of change on nasdaq with a roc retail sales chart.
when the nas is hot so are retail sales - it's that new economy wealth effect -g-
A correction in nas will slow down the economy.
Greenie will get his way, even though the timing is off.
This bifurcated market is at extremes, and as Gersh said today, there should be some kind of snap back to an in between area.
All the people who are bearish, are not short the naz, it scares the hell out of em, they are shorting the dow or the spx.
This is going to backfire, provides no liquidity for naz, which is all filled up with weak handed margined players, while they bears on Dow and spx are going to have to cover madly as the out of favor old economy rallies.
When the broad market starts rallying, liquidity dries up for nas stocks, they are no longer the only game in town, notice on the front si screen my buddy dale is rotating into some old economy stocks.
the nasdaq remains a dangerous place to be long.
b |
