DO, I should be more specific. IMO, the Nasdaq and techs will have a nice short-term run that will take us into the 3000-3500 level within 2-4 months, before we retest our lows again on the long-term COMPX chart for another 2-4 months. Outflows will continue out of the pharmaceuticals for the short-term to chase the tech's back up. Then, probably money flow will trickle back out of tech and into pharmaceuticals and food stocks, once again. As far as the Dow, it possible that it may push to new highs, but the Financials and lower Oil prices will cause the Dow to cave in at some point in time, the big ? is when. The Fords, Motorola's, Hewlett Packards, IBM's, LU's, and Xerox's of the world continue to warn, yet the DOW continues to hold it's own, due to it's diversity in nature with energy, food, and pharmaceuticals holding it up for now.
Long-term, I think energy(natural gas, especially), gold, and pharmaceuticals, and food are a safe bet here. I still feel Gold will have a mega run by the end of summer, and at these levels, I stongly feel noone can lose investing a small amount here. The $ seems to have hit a double top a month ago, and I not sure if it can break higher highs anytime soon, that will only help fuel a rally for gold.
KM |
