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Non-Tech : Raptor's Den

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To: velociraptor_ who wrote (4264)	10/7/2002 6:35:39 PM
From: mish5000	Read Replies (3) of 10157

Hi V; interesting quote: "time for this leg to end soon and begin a few years of slightly up movement." Months: possibly - to form another distributable top.... Years - absolutely no way in hell. The bubble is nowhere near to being deflated, and valuations are still very lofty on the benchmark S & P. Which sector will lead the TECH Heavy (no recovery) NAZ? A secure bottom will NOT be found until there is an almighty "yack"....A few days of pure "white's in their eyes" multi-billion share days - stuff...and barring a catastrophic un-market related event, it just does not look like it's going to happen.... If we look at monthly indicators for the NAZ, some indicators were pegged at Over Bought for close to 11 years (!!) with most others averaging overbought for 5-6 years. Granted, a few indicators are now approaching quite severely oversold - but that is not evidence enough to suggest more than the EXPECTED upcoming multi-month bounce. WHEN this bounce does come, and we are now only 110 points away from the 1000 Target first stated from many months back - it will almost cetainly fail and open the door to a 5 - 700 Comp Target thereafter.

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