Ah, thank goodness, the long nightmare in tech is finally over. Silly me, thinking we would hit Naz 2200 this month. Yesterday certainly proved me to be just another worrywart.
Not.
Last spring the Naz corrected about 10 percent in two days, then rose 4% in one day, and the talking heads on CNBC said something like:
So, how do you see the Naz?
Well, the correction is over.
Over?
Yes.
In just a day?
Yes.
How is that possible?
Well, this isn't the Old Economy, you know. Things just happen a lot faster now.
I see. Yes, that certainly makes sense.
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I believe the good old Naz was at about 4350 at the time of the talking heads' discussion. AAPL's bad news should throw a little water on the fire this morning, and we shall see. Since the fundamental picture hasn't changed in energy, I still believe this is the place to be. Bottomside risk, nearterm of 95, upside potential of 135, solamente dos centavos, of course. |
