Dear Pat,
You must be an night owl like me. I anticipate a down morning, maybe as much as 3-4%, however, this just may be the bottoming that analysts have been referring to. Should we break another key support level at 7800, then we may have serious problems, however, I am betting that a mid afternoon rally brings the market back over 8300-8400. I have doubled my positions in everything I own, hence, put up or shut up, will never be mentioned.
Look for heavy early selling volume, followed by a market lull, then very heavy (heavier than in weeks) buying programs. I think ASND will benefit, watch for the bell weathers, INTC, CSCO, IBM, MSFT. Lastly, the 30 year bond has got to help us out, this flight to quality junk is hurting us more than people know.
Strap your seat belt on, we are in for a ride, a ride I think will be a good if not excellent one...when the dust settles.
Thanks for your feedback, I just can't stand for negativity (especially when we are all on the same team!), and my last posting didn't deserve the drubbing it got, maybe in mid October, but not now.
Jamie |
