sheez.....I hate this myself...I am a sucker for punishment. I am so used to seeing red, I am apalled if I see green. haven't looked at individual stocks but see naz turned positive.....although i have no doubt my portfolio will still be down...qcom, jdsu, sndk, atml and etc, etc,...
seriously though.....dont know how well this bodes for market...just more bouncing around. We need to go ahead and get real ugly so we can capitulate and form a real bottom. This suckers end of day rally is just that.......monday will be down, and we may do this slow downward trend.....one step forward, two steps back.....until we hit very low levels like naz 1400 - 1500 or we get a few days of capitulation, aggressive rate cut of .75 or 1.0 in march and short covering and sideline money re-enetering....as it is........these sucker rallys do nothing but give people $hit to talk about........I would have rather seen naz close at 1950 today on a vety ugly close...follow thru with masssive selling and margin covering monday and first part of tuesday...intrady bounce from 1700 back to 1800 to fool more sheep, then wed thurs morning final capitulation sell off to 1500 at which time thurs afternoon the shorts cover en mass....computer programed buy orders kick in....sideline money re-eneters and we go from 1500 to 2000 in 2 days.......But, this positive close ruined that scenario all together.
Good weekend to all....next week will be ugly regardless....todays slightly deceiving stong close is evidence we go back down again.....IMHOOC
Cheers to all....I am outta here......gonna go shoot some pool, drink some suds and relax at my neighborhood watering hole, which is so much like Cheers it is ridiculous....we have norm, cliff, sam, dianne, carla...everybody....what a hoot...... |
