*OT* Hi Sam, I agree, and I thought by not talking about it, it might go away <G> Also, a secondary concern is the IPO supply, which is quite large...
Still, sentiment became so bad recently, and the market reacted very well to news from Intel, Cisco..barring another major blow-up, I am fairly confident the lows are in. Technically, it looks pretty good (we had a big volume, turnaround day, and then a retest on lower volume- sure, you'll always find those that want more volume, and a bigger "clean out", but last Friday was our 1st 2Billion share day since April's problems....that's volume, and it was quite a turnaround)...We'll see...I think, though, investors will find a way to front-run the November-January trend. Also, we have an election year..that should help (barring a Democrat sweep)..
I wouldn't be surprised to see the Naz be strong the 1st 2 weeks, sell-off as earning come out (and tax selling, as you mentioned), and then rally the final few days of the month (in anticipation of November)...overall, net up...perhaps around 4000.. |
