| Well, I said somewhere between 500 and 20,000, sometime over the next few years. That's my story, and I'm sticking to it. As for the last high-flyers to be rolled down the rocks, I decided I couldn't wait for the IBD, so I found the "52-wk high" field in my quote list function, and ran it down the four-letter stocks I follow. I'm sure there are a few I've been neglecting, but, anyway, CMVT got about as close to its 52-wk high today as EMLX - and took a similar-sized backwards step today. CHKP similar story. Otherwise, it's pretty slim pickings. So maybe by your own logic this late phase of this bear market is about to reach its ugly tail end - tracked down the last escapees and started roughing 'em up. Must say though, looking at the long list of 52-wk highs next to current prices (all those 347s and 298s next to 20 or 30 or 12 or whatever, and that's not even including the ones I quit tracking) makes me lean a little more toward the 500 than the 20000 side... but it's just a mood. I still think that, though we're in a bear market, the real Bull Market (as well as the broad reflexive expectation that there's more money to be made, faster, in tech stocks than in mayonnaise and tractors), is still intact until that big l-t uptrend from 1990 is truly broken, and maybe only if the Dow breaks down, too. |
