The Hang Seng soars monday 11/3 it is up more than 5% at mid day. If we have a ralley like in Hong Kong we can be up easily 300 DOW points, I expect the DOW Jones to be at 7800 in the next two to three trading days, and I expect CPQ to be at 75 during this ralley. by end of month we could see new highs, as I said, last weeks prices were for wholesalers only, the public is too confused and scared to make large positions. I expect the ralley to be for several reasons
1) we are heavily over sold
2) The foreign markets are soaring
3) too many people are cought short, and I expect a short squeeze, they all have stops, and I believe that when they are takent, they will be forced to buy back to cover their short positions, especially in CPQ
4) CPQ announced that a decline in Asia will not affect its profitability
To all the Bears, put stop losses early, or face to see your portfolio suffer a major hit, every time this market looks like things are bad, it goes up like sky is not the limit... |
