Softechie ----look at the economic progress we've made.
Traditionally the Market does look ahead at least 6 months
but even if it is 3 months - look at the recent numbers, especially compared to 3-6 months ago.
Durable goods number way better than expected yesterday, GDP positive at +1.4%, housing market strong, consumer spending continuing strong, visibility way better than it was, inventories way down (i.e. way down to 1995 levels at Intel), inflation still low, jobless claims less than expected, etc, etc, etc. That's all pretty good stuff, imho.
The Naz should rally soon as investors get more confidence. The only caveat is the accounting issues, but if they continue to take a bit of a backseat (and it looks like they are), we should rally very soon. |
