Denice, well, when the going gets tough, the tough gets going. I have just jumped back in to 65% invested, added to my poor losing position in VECO, also reestablished CYMI at 14.5, some AMAT and some NVLS and bought some ASND (missed the bottom got 40), CSCO under 100 and CCRD.
Reasoning, those turnips, here are few things they have pointed out to me, the tick managed to set a new record of 1881, mind you the last two worse reading where during the last October massacre at 1775 and earlier this year, both instances were foillowed by extremely strong rallies. Mind you, this is not an end to the bear move by any means, this is just a very short term call of a rally coming on.
Few other things to note, we have a record in the new lows established today (on the NAZ it is close to 900, I a number I have never seen before).
Once more these extreme numbers indicate quite a change in the mood of the market (indicating a period of bearishness), but when extremes are reached, usually the market fools everyone and provide for a good short term trading opportunity.
Tomorrow, I'll probably be sorry.
Zeev |
