hey kymar dude, japan gave up almost all it's 80's decade long parabolic at the 1998 low,
ya ya i know the nasdaq is not the nikkei and we are not japan, that's wat they told me in january thru march when i posted my comparison chart,
this time was different,
this was a new economy,
the internet will change everything,
valuation metrics have changed,
p/e ratios are irrelevant,
buffet is out of touch,
dow theory is outdated,
buy n hold forever,
there is no other place to put ur muny but equities,
yadda yadda (an der's lots a yadda's)
i believe we have the reverse sentiment picture of the death of equities in 1982.
the rally of the last couple of days in nasdaq had a crappy ziggy zaggy look and maybe the greenie rally was the extent of the countertrend rally off the oversold new year bottom.
there are triangle on the semi's, triangle on the pulse of the speculative market jnpr and an other patterns i see on a lot of stocks that could go up or down.
i was busy with other stuff and got complacent today and didn't sell the buying panic into the close.
if the greenie rally was the finish of the countertrend rally, then the top today was the beginning of a big wave down that will bring all the indexes to new lows soon.
hochberg bullish - rite, he wanted to buy cmgi in late november for a rally to the gap.
we appear to be in an unwinding phase of the extreme bullish sentiment going into march, and finding the bottom for anyting more than a day or 2 rally (nas) will contineu to be elusive. |
