Yessss, yes LOL yes!! ggggg A 22 bullet in the ear gets your attention...
Nooooo, nope, no, not yet! IMHO the price of GE and others will still "come on down" as they say on the Price Is Right! We may have the infamous "10% bounce" in here, and it may be the best time in the world to buy, buy, buy, but, but, but I don't believe it. gggg
Goldman Sachs et al have a ton of MONEY that Uncle sugar gave them last week yet plus a ton of their own. They may see a "compelling" reason to spend Some of it, but then the shorts come back in! IMHO!
If I were to gamble I would go to the network security stocks like CKPT and a few others.
I may miss the biggest rally of the market, and I probably will; However, I am still positive on the year and FMAGX is negative to say the least, like a minus 27%! I will keep doing the same thing that got me here, WAIT FOR SUPPORT. With the emphasis on WAIT! ggg IMHO OEX is not at any discernable level of support and needs to move on down to 460-475, or move up above 530. Pick your choice. When I look at the probabilities, I favor the lower number.
So I will wait for a compelling reason to pick up the dice again, and if I can make it so, I will use MY dice! ggggg
My best to you and yours,
Remember 9/11/01
Paul K. |
