Thread, Active-investor added 3 tech buys today...
Thought you might want to check out the options on CSCO, PSQL, and MGXI. Just added at active-investor.com.
DON: The 6% reversal on the charts may be in relation to what Dorsey calls the Bullish Percent charts. For each index, they keep a running tab of what percentage of stocks in that index are on buy signals. That gives you a number from 0-100%, with most sectors spending the majority of the time between 30-70%. The present trend is very bullish for the NYSE stocks, but if 6% of the buys go to sell signals, that trend will reverse downward.
If this is a market like 1987, 90, or 94, we are not likely to see 7400 again anytime soon. The short-term and long-term indicators are very washed out and have reversed up.
If this market is like 1981-82, we WILL see the market move up over the next couple of months, top out, and retest those lows.
One thing that does not bode well for a continued rally is, of course, seasonal factors. How many October-Novembers have been great periods?
JS |
