Don,
I cannot see the overbought conditions on my charts yet?Looks to me if we take out ~ 458 on the oex, it might try for ~463.Earnings have been ok but, I did not expect to realize the full extent of the Asian impact this past quarter anyway.I have to wait and the good news for me is that this otpion period is longer for Feb. than Jan.I do see a sloppy trend more to the downside,but am hoping to see it higher before going short.Watching the 460 puts for now.It is a bit of a psych game now...Besides the buy the dip mentality...in my conversations with quite successfull executives, the general attitude is of complacency.A frequent comment,e.g., is "Where else will all the money go?"They could care less about corrections, hope that we won't have a bear market and if we do they will ride it out.So this mentality and market volatility can work very well in our favor.BUT,the patience we must maintain is driving me nuts!I am sure I will miss some good trades and make some bad ones,but I haven't seen the blow-off top YET!BWDIK ;) If I am missing something on my charts please let me know. (BOP on TC2000 is looking weak)
Regards,
Barbara |
