Well, the NASDAQ is really starting to roll now. 16 trading days ago the NASDAQ closed at 1644.03 - today it closed at 1841.48 - up 197.45 points, or on the average, 12+ points per day.
I think Sarmad is being far too conservative. He thinks we are going to get to 2000 in the "next 3 to 4 months". Let's see, we are up 197+ points in 16 days - up 31 plus points today - we are being far too understated about the strength of this rally. A few days ago, I said we would get to 2300 by the middle of January - even that is probably being too conservative!:)
Now lets see - if the NASDAQ can do 31 points a day(maybe it can do even more once the traders get rolling), by next Tuesday we should be ready to "bust through" 2000. Even if we stay at the same day rate of roughly 12+ points per day - it will only take us another 13 trading days to get to 2000 - that will be about Friday, 9/19.
From there it is not very far to 2300. Let's see, at the rate of the last 16 days, approximately 8 trading days means another 100 points, or in 24 trading days we will be at 2300 - that puts us at about Friday, 24 October. Apparently we are being far too conservative in our estimates.
We are just beginning up the curve of the "bubble". Further acceleration should be expected.:) After all, there is really nothing standing in our way. Times are good, plenty of liquidity around - I mean everything is moving onward and upward.:) Can anybody find anything "substantial" that is standing in our way?
By the way - a lot of silver bullets released this morning just before the market opened. The big brokerage houses are giving the big "gererals" nice upgrades to earnings estimates and target prices. Dell, Oracle and NSM were on tap this morning - keep tuned for another few silver bullets to be released tomorrow morning. We are on a "roll" now - got to keep it going, and Oh yes - accelerate the action a little please.:) We have to get all the "non-believers" to part with their money and jump in - shouldn't take much longer now. After all, we wouldn't want to be left behind would we in our march to the 2000+ area?:)
Don |
