Carl, no, apart of another short term rally in the morning, they say it is still better to step aside. They retest of 7400, another bounce (as we get a bounce from the sub 14,000 in Nikkei) and then on the third down to test the Nikkei Maginot line (probably not for two weeks) they see a break which might clean the thing up (still look like danger until late October, then Cheap Bananas). If you are tempted to do some selective buying for short runs, I like XIRC, CCRD, HAUP and THQI, but gosh, you may find some air pockets there. I am not playing this short rallies up like we had Monday, they open at the top (like they did CSCO) and it is down hill from there. They may open INTC at 85 or higher, but by the time you can jump in it will be back on its way to the mid 70' or lower IMTO.
Zeev |
