Hi Jeff; lots of the TA people think the 200 day MA on the DOW is the "break point" and if you look at it over the last couple of months, you can see why. My chart (which is not MAs) says we could easily see another 300 points down, but the COMP has already gotten beaten up, so I think 8450 is close to the bottom. I guess what I am trying to say is that if we do get a further down move, I won't be shocked unless the DOW goes below the 8350 area. I think anything between those 2 numbers will flush out all the cash on Wall Street, because after all, this is still a bull market, and the money has to go somewhere, and technology is real cheap right now.
Oracle just looks super cheap to me. It's hard for me to believe that it is a cheap as it is! Consensus is for .38, they have not warned, and they just announced a nifty deal with COMS. If they beat their number by 2 or 3 cents, I would think it would be a very attractive stock for the fund managers.
I think the entire correction in the techs hinges on INTC, and I am really interested to see what JBL (the home run of last summer that I missed while holding INTC...) does tomorrow and I am interested in the CC and what they say about the next 3 months.
I can't give you an opinion on SMOD or PAIR, I have not followed them for at least 3 months. I have been following CKEYF, which looks good to me, SSPIF, which looks good, and WCOM, which appears very strong fundamentally. I also like NVLS. Just about everything is really cheap right now, eh?
I think I'll let the fund managers decide what is the strongest and go from there. If "they" decide to short squeeze ASND before Friday, I will not be unhappy. :o) |
