""I can just see you holding that much BRCM and turning green with fear""
I won't do it.
Things have changed IMO. Quality stuff is expensing options, and attracting buyers.
I know people will look at these charts, and think, BRCM did this before, so it looks cheap here. But, I think, due to non-option expensing, growth, and valuations, it's gains are capped.
IMHO.
Upper B is 20.37 on BRCM, looks like a target to me, BWTHDIK??
What I see happening is, after each bear market rally, less and less of this tech stuff comes back. Each time, more drop off and turn into penny stocks, like VTSS, RSTN, even AMCC, IMO.
Example: Indu is up about 1300 points off the low, or about 18% up. Nasdaq, up about 160 points off the low, or about 13% up. It's got problems, ggggg.
In the previous bear market rallies, tech and the Nasdaq led, not this time. Off the Sept. lows, Nasdaq popped about 50%, from low to high, more that the INDU. This time, the INDU and SPX are leading.
Can the Nasdaq go higher from here?? Sure can, and it might. But, I'm not looking for much.
But look at JNJ, back to Oct., Dec., Feb. levels, back above 55, up about 32% from the low. MO back above 50. This is where the money went, off the lows IMO, that's another reason why I think this rally is about cooked.
Anyway, how did you get me to type this much?? gggggg. You already know what I think, Nasdaq is going under 1000 and hundreds of these little techs will disappear.
All bubbles end badly.
All bear markets end with stocks being undervalued.
Business is deteriorating.
The roaring 90's are over.
And, there's nothing they can do about it.
All in my opinion.
But, hey, if they want to run these little POS's up some more, I'm game.
;-) |
