tim, the small and midcaps have kept BPCOMPQ high until lately, and the large caps (NDX) have been seeing all the selling.
Notice the similarity to the timing of the decline between your chart and the small caps below:http://stockcharts.com/def/servlet/SC.web?c=$rut,uu[l,a]daclyyay[pc8!b5][vc60][iLp14,3,3!La12,26,9]&pref=G
I have no idea how long this rally will last - the most bearish are saying one day, others are saying a week or two. Right now I have no opinion.
I read many people on other boards commenting on how CSCO's news shouldn't have caused today's reaction, but they're forgetting about how the funds have been desperately looking for any good excuse to make some short term gains. Those that are thinking that way are forgetting that the market has rallied significantly on lesser news,as it did on the DELL news at the beginning of April last year.
I missed today's move - all cash except for long term picks |
