Berney; RE:" Dismal Is As Dismal Does "
Okay, I looked at the charts. Dismal! From my humble perspective, Red rules! Your take ?
...they're (all) goin' down - they're near the bottom of a channel within this DownTrend, by Monday.
I expect the NDX.X to try to make it back to ~980 on speculation from INTC earnings, barring some other Asian event or earnings warning that scares the piss out of everyone. I mean - it was scary enough when their friggin' banks failed; now they are hoarding food.
If INTC misses earnings by 0,02 - then we'll be looking at NDX sub-900 in short order, so-to-speak. If INTC suprises on the upside - then we'll be talking about taking out the resistance at NDX ~1030. People are holding their cash and bondz and want to buy TechStocks so bad, they can taste it.
Interestingly - my MM friend here in Houston is telling me that it is the MM's who are selling. If cash in-flows are no longer supportive, the long-term trend will be de-valuation of equities as well as de-flation of commodities, which has already been accepted de facto.
If this is the case, we would expect even real estate to start going down in value next. My generation cannot even conceive of this.
So, your cash-flow data is of great interest to us right now. Thanks; your take on QTR-4 earnings and the rest of '98 ?
-Steve |
