Good question. If this was 6 months ago, I'd say we
would just zoom up to 42 easily.
The problem now is the world economy. I don't think
we will close tomorrow at $30 because all the shorts
have to cover. If we do end up at $30, that will just
show me how much controll MMs really have.
>>What do you think the next range will be (30-33 perhaps), or
will enough momentum gather for a gap up to mid-high 30's in
the next month? <<
I think climbing up will be easier. For one thing, there's
a good chance we will have ANOTHER RATE CUT BY END OF YEAR.
How fast is the question. Maybe there will be so much $$ going
into DELL and MSFT that investor's won't notice COMS. But I
also think there's a lot of money on the sidelines
that may be encouraged to get back in the market.
In old Bear Markets, when things were the worse, the Fed
would ease, and the market would start climbing up about 6 or
9 months before the end of a recession.
Maybe, we've sort of been in a mini-recession and now we've
seen the worse and 6-9 months from now, tech stocks will
have profit growth like they did in '95 and '96. If this
is true, then Bull Fever Mania will be hitting us big time.
Ahhhh, enough euphoria....time to come down to earth. I
think generally we'll be moving up, but we've got to get
the whole story first...let's see what happens in the next
few days with world markets, etc.
joe |
