And CSCO joins the party!
All the other tech leaders (INTC, AMAT, SEG, CPQ) are here, and I was wondering when CSCO would show up. It looks like MSFT is on the way, too. Good thing I didn't buy them with the rent money. The amazing thing is that the market seems unable to distinguish the good from the bad. Leaders and laggards, commodities and brands, good and bad balance sheets, it's all "tech", and it's all invited to the party.
Just bought a great book, "TA Explained", by Pring:
"To be successfull, the technical approach involves taking a position contrary to the expectations of the crowd. This requires the patience, objectivity, and discipline to acquire a financial asset at a time of depression and gloom and liquidate it in an environment of euphoria and excessive optimism." |
