Jay, I see no reason right now to change the picture. Watch AMAT tomorrow, and if you see it again bumping hard against the $52 area, that should be a sign that the scenario is still intact, i really cannot point to many other "singular" indicators. Remember that unless you actually sold by the third to fourth week in January, you gave up all that euphoric gain of January 3rd and the lesser creeping of the rest of that month, thus having been in cash did not hurt you. If you really want to play the risky game of just few days trip, maybe BRCD is still in buying range and possibly few biotech like QLTI, IMNX, IDPH and AMGN, all of which might have here still a 10 to 20% run left in them. This rally is getting "long in the tooth" having started, according to my count on March 22nd, it may not last much past this Friday, possibly next Wednesday.
Zeev |
