Bill I'm not responding to sentiment at all. I may be fanning
its flames, but I can't be moved by pundits here or elsewhere,
as their comments seldom make any sense to me. Of course when
somebody does begin to make sense that person becomes dangerous.
I'm just looking at some charts. GM is at the top of a trading
range and should make at least an attempt at symmetry. LUV has
just returned to its trend line after falling below it for the
last few months, and appears to be tracing out, albeit with a
delay, what the XAL has already done. YHOO and MSFT based
poorly the last couple weeks, and then started rolling over
as I though they would. CPQ, in my view, went too far in its
recent peak in mid July and recovered too fast from the fall
that followed it. That's either spectacularly bullish (it's
going to 45 this month) or very bad (it's making a rising wedge
along the lines of what CY did last year). GPS, a staple, has
just made an uncharacteristically large break.
So, for CPQ, YHOO, MSFT and GPS there could be a mega surge
coming, but it wouldn't be the sustainable kind. GM and LUV,
I think, won't participate.
We'll see.
Shahar |
