<<It's time for the techs to rally.
We've reached a plateau where every one is numb, stupid, and hurting.
Don't expect much more selling.>>
Read my post from yesterday, BEFORE orcl warned....I called it a suckers rally and looks like I was right....what I was off on was I said we open up today and sell off later in day. What changed that was orcl, it prevented the up opening. As far as not expecting much more selling as you said.......what is this we are experiencing now.....are all these stocks down because folks are buying??
Well regardless, I am not selling.....I dont think we are close to this carnage being over, but I am still not selling.......staying covered with otm 02 leaps so I get a nice premium and room to run to the upside, but I am not selling....in fact, if $$'s allow, I will pick up a couple goodies, but I am waiting to see if 2000 serves as a bottom or as our next resiatance point to the upside...if we break 2000 and dont recover, it could be the same thing that happned at 3000....everybody said it would hold, it did a few times with some nice pops up after bouncing off 3000....but what happened when we broke 3000 and the selling accelerated?? Down we wen't and now here we are knocking on 2000's door again. What we need, as I said yesterday is a final washout. Until that happens, naz aint going anywhere imo. |
