Hope I'm not just "whistling thru the graveyard", but I think the sell-off might not be as deep nor as long as everyone is predicting. Lots of discussion about it tonight, but cooler heads may prevail tomorrow. B to B numbers indicate a RE-ACCELERATION of equip orders.
cnnfn.cnn.com
Also note, FIRST TIME EVER equipment sales top 3 Billion $/month.
We might get just the blow-off that everyone's been looking for and then start climbing out of the hole. Earnings warnings are just about over, bottoms will be just about reached tomorrow, so there's only one thing analysts can do to continue to churn tech stocks for their respective firms........do a 180 and go positive on them!
So, in two to 3 weeks, if oil, interest rate, and euro fears have somewhat abated, it'll be respectable for them to start spouting "uncommon value", "dramatically oversold", or "poised for profit", ad nauseum.
BTW, no one's in deeper than I am. Spent my last cash reserves picking up 1K of ASYT this morning. Should have gone fishing instead.
Regards,
Knip |
