>>The difference this time around is a lot of firms are buying back shares.<<
Really? I remember back in 1998-1999, IBM as well as Dell and many other companies spent huge amount of money buying back their shares. So what is the difference this time?<g>
As a matter of fact, many of them spend more money to buy back shares than on R&D, talk about the future of the company<g>
As for the bag holders, I would like to add domestic (US) small investors. Yes, they are too, along with mutual funds and foreign investors.
That said, I think this market still has some leg up, believe it or not<g>. I will still be cautious in shorting.
This guy seems bearish:
" On Tuesday, the Nasdaq rallied in early trading but then chopped back and forth for the remainder of the day.
The S&P showed some initial strength but soon found its high and began to sell off. It found its low around mid-day and then chopped sideways for the remainder of the day. .
The fact that the indices can't hold their 5 year highs is concerning. It suggests that this market lacks any conviction. In the sectors, the commodity related issues remain in strong uptrends. However, most other sectors are either chopping sideways are appear to be forming transitions (i.e. could be rolling over). Therefore, outside of the metals and energies, avoid trading on the long side. On the short side, the REITs appear to be resuming their downtrend out of pullbacks."
biz.yahoo.com |
