Too late, Taqi, I believe the thread has become privatized -g-.
This am it strikes me that the S&P, dow (and stocks within it) are up a uniform 2%. (at dow +165.). I.e. merck: +1/4 before 10:00, +2
after 10:00. Also at 145M shares (nyse, as of 10:15 or so) also that isn't exactly a buying spree, is it.
So the rally is from computerized trading programs, driven by futures, etc. Does that make a sustained market, or do the true stock buyers sit back and wait on individual price dips.
We do have great contrarian numbers, bear .vs. bull sentiment, amatuer shorts above 6%, specialists below 1%. Did I hear two mergers today? With the bank deal that makes three.
Technically ragged but when there is a month without news, what can you expect.
My biggest bet is on 3com, it is the first of the big money techs to report, good chance for a run to 55 or better in anticipation. Hopefully it can drag Ascend up and I can trade out of that.
Greg |
