Greg, you have made some great calls in the past...but I have to challenge you on your most recent one (posted):
* one of the "most certain" trends is a market rally during the presidential election period...essentially, it is a time of promises, feel good, etc....(somewhat, but to a much lesser degree, why the market often goes up the day before a holiday...people simply feel better about themselves/the country)....It would be, I believe, unprecedented, if we head into a bear market, or lose 500 on the Naz (and don't rally immediately) in the next few months...
* Despite the lame last few days, the Dow, S&P 500 are within a good couple days of breaking major support (on the upside)....in this happens, the Naz would not carry the whole load on the upside (ie, broader market advance), and that makes technicians feel much better...and I think big money would feel good about things as well
On the downside, yes, we are in the low liquidity period...so I don't have any illusions about any rallies thru 4500 between now and September/October...BUT, I think we can hold our ground....BTW- Going down to April/May levels would be, geez, a quadruple bottom...and not a double, no?
Are you totally out of the market then, or how are you playing your prediction? (Personally, I think you are disappointed about the lack of performance of QCOM this year, and you are "projecting" on the rest of the market <G>)..Having said that, I have great respect for your opinion, so I look forward to your reply...
I am still ticked about GMST weakness, however...I like concept stocks that go up steadily... |
