Well, well. Hong Kong is rallying, up213, but Tokyo doesn't seem ecstatic about our little rally today. Nikkei is down 26 (-108 when I started writing). Maybe they know it's just a "bull trap", aka "suckers rally". Too many people (like me I admit) were expecting another "Black Monday" for it to really happen. Can't say the rally was that impressive though.
We'll see what happens to techs in light of MOT. INTC sure rallied, huh? Somebody (many somebodies) betting on a positive surprise? Lots of room for disappointment then.
Obviously today didn't change my outlook.
As for AMZN and YHOO, I'll sure be relieved when I'm out of them, win or lose. It's really frustrating to have two such obvious bubbles ready to burst, then just watch them tease you a little then rally again. Nobody but a few conflicted analysts even dare to say publicly that anyone should buy these (conflicted in that they are bullish for reasons other than the best interests of the suckers that believe them). The only people buying them for even a remotely rational reason, do so for purely technical reasons (short squeezes, short covering rallies) and then only for day trades. Do I seem frustrated?
Bob |
