Duane,
I think they are going to throw caution and P/E's to the wind and keep pumping Nasdaq like crazy as the Dow falls, so you might get a chance to let your tech funds get good and fat before you sell them to JQP at the top of this "double bottom" rally. I might even jump on for some of the fun. IMHO, as long as the likes of INTC JDSU LSI keep coming out to cover their butts, and professionals keep downgrading while running them up, calling it a possible-hard-to-say-could-be-we're-not-sure-may-be-a-double bottom, we might even be able to scalp a whole run before earnings come out. (BTW, if this is how it unfolds, I would definitely sell before earnings come out!) I believe that this is just another vicious bear market rally, but we have a lot of well-heeled bears out there and they might be setting the traps up on a little higher ground this time.......I need to look at the chart to see how high they might push it. If they get the double bottom it will be easy enough to measure it.
Ah, back to the truly treacherous old dayz of trading Nasdaq......
I think players are factoring in a 3/4 point rate cut this month, and there will be hell to pay if he doesn't deliver.
I still plan to hold my miners long unless they break their new uptrend.
E |
