PC, You haven't heard. Cramer is now a bear and he called the top after the market fell 13%. <G> I hate momentum geeks.
I still don't see capitulation. If we had a a day down double this amount, I would load up for the trampoline pattern. We also have to remember that if the fund buyers decide that down 30% or so for the year is not building their retirement fund at the proper rate, and decide 5% positive return is better, this minor downturn could turn nasty fast.
I think there will be fake rallies in the mornings and during the lunch hours (when the top guns are not on the desk). But you have to be fast. The calls I would recommend but not buy myself for trading pops would be on Walmart, Lucent, Ascend and, believe it or not, Micron Tech. I don't know what the bulls expect on that piece of crap, MU, but they are a persistent bunch. <G>
Abby has now cried bull twice within the last 1000 points down. Methinks she now shares a co-op with Elaine Garzarelli and they do those "do you know me?" commercials for American Express, and learning the Schlimiel, Shlomozzle verse from Laverne and Shirley. At least I hope so. I liked Elaine, personally. I can't stand Abby either professionally or personally.
MB |
