this is certainly an attempt at some sort of rally....maybe the market IS smarter than everyone else...but I find it hard to believe all the bad news is out.....Chambers, Grove, Dell, no one knows where the bottom is here... there is something, a tone that very negative in their pronouncment which I think go beyond Reg FD...they really DON'T seem to know...
I just think we're seeing an oversold bounce.....and we'll keep going 3 steps down, 2 steps up...until we either get capitulation OR we get some REAL evidence that things are turning around....
I think Greenspan put has shot its wad....now its up to the hard evidence...
Gap up today, IMO, was not good for long case...I think a down morn, and recovery would have been better....Naz coming off highs now.....Today, you've got Yahoo, Brcm, Jdsu warning....my goodness, this used to be the class of the new revolution.....(not to mention Grove's comments)...and on the upside....uh...Abbey's comments!
I gotta agree with the poster that says a successful retest of 2071 would be a good spot to jump in...we need even better hi/lows, lower volume retest, SOXX to hold (keep positive divergence) |
