<< I guess I should concede the same. Neither a bull nor a bear here. >>
We're starting to see worst case predictions now. JDSU at 3, INTC @ 12.
I must admit that I am getting antsy here. I've put my eggs on the line based solely on one indicator that has never failed in it history to produce a major reversal. What if the ARMS Index expires this time without the reversal. If that happens, then I will need to re-evaluate what to do.
It has been bugging me that many techs are still not what a reasonable person would call cheaply valued. I am going back to my days as a semicap investor picking up CYMI and ASYT at 0.5 BV, KLAC and AMAT @ about 1.7BV. ASYT at that time trading near cash value. But, if you look around, I guess there are techs trading at those levels of value.
The ARMS index is now 14 trading days in since breaching the 1.5 threshold. Has a bottom been found yet? Maybe. The DOW is the index used to measure the effectiveness of the ARMS indicator. I see Day 11, Thursday August 30th - Closing low 9919, Intraday low 9829. Each trading day since, the Dow has made a foray into the 9800's. Each day turned back, each day higher than the last in terms of closing quote and intraday low.
For the DOW, it may be over. The new bull may have commenced. Should the DOW continue to charge higher, I assume that the broad market will soon follow, NASDAQ after that. I shall take a wait and see before making any bold predictions, though.
Warp |
