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Pastimes : The Philosophical Porch

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From: Rarebird	4/24/2008 8:24:43 AM
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Transcendental Market Fragments: Nasdaq-100: The tech stocks of the NASDAQ-100 Index continue to outperform the rest of the market. These stocks are the darlings of the market as they are seen to be relatively immune to the current recession. Don't be fooled. A sharp correction of the current run up is likely starting this week. Sentiment: OEX traders (those traders who were rabidly buying puts as recently as last week) were again buying calls predominantly on Wednesday. This complete turnaround in sentiment is a strong warning that this uptrend is very near its end.

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