Taqi,
I should keep my fundamental opinions to myself, since I am not a fundamentalist. However, I still stand by my original opionion that the big players (MMs,Institutions - to me they are the same,which I could be wrong) want the market to pull back, since they also missed out. I believe it was the small long-term investor who benefited.
Well I really do not want to get into a fundamental discussion, since I am really not trained in that area.
As for market direction sentiment, the much stronger opinion is that that we will fall back again down near the lows. A few have even said 6400 for the DOW.
If you recall from one of my posts when the market dropped initially, I had also called for a TECHNICAL DELAYED DIP(DOUBLE BOTTOM) prior to a solid runup (which is a common occurance after a big decline), but I changed my position during the week. I did such since I started seeing quantifiable signals which came from specific GUITAR calculations, which hinted that the market was returning to technical normalicy. Such is not a subjective viewpoint as it is with most, but I am talking about specific quantifiable calculations not gut feelings.
If you saw my earlier note, I am still leaning even more so to increase my bottom for the DOW from 3250-3300 to 3350-3400. I have not done so since I need confirmation of specific issues, and such issues are not just price alone. Even if the market is up on Monday I still may not raise my bottom since there is one other major situation I need to see, which I subjectively feel will come.
Seeya |
