<<sure looks like it wants to break the 1900s >>
I don't see much support, and in fact think this is just going to snowball and as usual, overdue things to the downside...this market always overdoes itself, both up and down.....the original recent bull that ended beginning of 00 was way overdone to the upside...we then went way overdone to the downside and in late 02 and 03 went way overdone to the upside....and now we are paying the price for such a nice move in 03, that was predicated on better economic and world news and improved earnings we were hoping for in 04...well, here we are 3 months into 04 and most, not all, but most, economic data looks awful to me....world events?? Sheez, who is going to blow up who on which day....will oil hit a zillion bucks a barrel....which government is going to be overthrown this week.....Bush and Kerry...Blaa!! Earnings? The prospect of good earnings was one of the things that drove this market up in 03....now, most companies are still saying they just dont see the growth they expected.....
Lets face it, the world is a mess..the economy is a mess and the equities market is a mess....not a good equation for the future....and I see very little that is going to change this anytime soon....honestly, at this point, even if we caught or killed OBL, I don't think even that good news would be good for more then a temporary and short lived pop.....I probably should move to 100% cash, but that is a sure fire way to move this market up and I dont want it going up without me so I am forced to stay vested <g> |
