>>My opinion is we're going lower, with the NYSE old economy giants leading the way.<<
It looks that way to me too. Am not sure why, because until now, earnings have been holding up (relatively) well. I would take an NYSE-led sell-off as a sign that the whole enchilada is going to get worse (earnings, economy, etc.).
Got the latest issue of Money last week, which I get mostly for general sentiment, and they were making some really reasonable picks for the first time in years. Made me worry if this whole thing was about to go down. They finally lost that tech stock mania, which means tech could be about to make a comeback, or everything else is doomed too. They were also pumping asset allocation, which makes me think inflation might be about to soar, so J6P can lose money on bonds too. ;-)
>>In the Naz MSFT chart looks real bad- the infamous Megaphone formation. Same formation on the SOX is more advanced, and you can see the future movements in MSFT by looking at recent SOX action.<<
MSFT sure is surprisingly weak for a company with so much "great" news lately.
Great comments, Arik, as always. |
