Tippet; Most all of them peaked in July, ( they fired a warning
shot in April <G> ) The loner was DELL, to bad I didn't catch
that, she went on up after the gang started down. Some one on
this thread was saying she was a set up for a short just last
week, well had I really looked I would have seen that.
She was sticking up like a sore thumb, but I missed seeing it.
She was the best of the Mo Mo bunch to have shorted last week.
--------------
All in all that Mo Mo gang is still over priced in respect to the
rest of the index and being we have had this much correction,
I'm not sure we won't have more until the P/Es sort of come in
line with the rest of the S&P if not as low at least reasonably
so. They are still hanging way up above the S&P.
---------------
Today it's very mixed up , I mean the up tick and A/D look ok
but someone in the futures pits is not buying that, so I don't
want top make a bet either way, I like to see the indicators
confirm one another, this is not callable from what I'm looking
at.
------------------
Looking forward we also have arguments for both sides, with neither
one giving a clear picture. My guess is Cash is king till some
direction from this point develops. We could get hit with some
really bad news from the derivatives markets in Japan, and the
Dollar is under attack. On the other hand GreenSpam could drop
interest rates, the 30yr is down, and cash is looking for a
place to go.
Jim
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