Dr. Bob,
I think we drift slightly higher over the next week or so. In fact, I think we will hit 2175ish. I base this on the 5 and 20 day EMAs chart and the fact that we are trending up in the short term. For the intermediate term (next couple of months), I think we stay in a trading range bouncing from mid 1900's to 2175ish, unless something sparks a rally (don't know of anything off hand that would spark a rally). I do think that today was a good day to catch a few points for the next couple of sessions for next week which I believe will be positive.
I really like your EXDS call and believe that one can really cash in on that stock both short term and long term. I also think, for the long term guys/gals that this is the time to start accumulating their favorite stocks. I've already mentioned LU, WCOM, and T but really like (in addition to EXDS), FMO, CBA, HAND, CSCO, RFMD, CHTR, MAXF, PMC (i've mentioned this guy countless times..lol.), UPS, and EMC.
I am secretly hoping for a long term trading range at current levels because my retirement contributions kick in Sept 1 and I would like to get a nice chunk in before any rally :O) My hope is at least 6 months of no rally. Doesn't sound like a long time but with my state matching contributions dollar for dollar, it can really add up fast..lol.
As a side note, I think the economy is recovering and inflation may not be a problem as I currently thought. I believe we have weathered the storm. I just hope the economy grows at a more reasonable pace, unlike the crazy years of the recent past. |
