Thank you for your kind words D123, and let me say a few words of my own to thank all who participate here and make this such a great site and welcome place to get my own perspective on mkt trends.
As to a market "pop", let me clarify. I understand we are still in a downchannel and feel that semis will be under continued pressure as PC sales are expected to remain sluggish going forward without some new technology "push" to force consumers back to the stores.
However, we are presently getting a few bullish signs. Semis are in fact leading the way as expected in the beginning of a tech bottom, and companies are starting to move up on bad news.
Let's look at Micron to make the case for both. The stock price has appreciated 40% this session and though as mentioned here in an earlier post, had margins slashed and an earnings that was far from encouraging.
Further, by the end of next week, we will know who will warn this present Q, and the majority will assume that those companies that didn't, will be set for some rebound. Finally, in talking to many long term investors, I am hearing from them that for the most part, they will continue to hold through thick and thin. As long as Mr. and Ms. Joe Public investors have their jobs, they seem to be content on waiting for a rebound, no matter how elusive that now seems. My prediction here is for another tech rally/bounce sometime next week. The litmus test will come on the following pull back and whether we hit new lows or consolidate above the present index levels...
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