INDEX UPDATE
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As indicated in my previous update, watch how the NAZ/HITECHs perform today. They are basicly CLASS BUYS (INTC,SUNW,XCI,CPQ,ETC) across the board. If they do not move up substantially, that will be a sign of futher weakness.
On a subjective basis, last Thur was a big drop in the NAZ, then on Friday it rebounded about 85% of Thur's loss. Yesterday, another big down day for the NAZ - then will the NAZ rebound substantialy again as it did on Friday.
If we continue at this pace, the DOW will hit 11,000+ by years end. Doubt that can happen in light of reduced earnings, so its a matter of timing.
Seeya |
