Dick,
From the "doom and gloom" in P&F land,
The NYSEBP is in its own "trading range" right now, it is like it keeps churning. I have written on the P&F thread that it is a troubling pattern to me. NYSEBP in mid 40s, BPOPTI in mid 50s, to me that is OK to good, not great field position. NEM just broke out of a huge base, I cannot see that as good news for equities, and given the time of year, where is the money going to come from to fuel the next breakout rally upwards, I don't think mutual funds are sitting on big cash.
Having written this, I will probably be wrong and up, up and away we will go. I am cautiously neutral here, playing what the market will give, long or short. With CSCO and AMAT reporting next week, the techs could get a nice lift. But this is more a time to trade than invest in my opinion.
Best wishes always,
David |
