>> I thought it was code named "Razor" <<
Yes, you're right. My memory isn't so hot sometimes. I do
remember that the Razor will have a color screen. I think
this will create a lot of attention for it...much more
attractive. Every business executive that has a Palm will
have to upgrade to "keep up with the Jones" mentality in
executive world.
>>Any thoughts on end of day close and Monday?<<
Well, doesn't look like we got another try at 32.
Just came back from late lunch, and the Naz looked like
it was lifting when I left.
I just looked at the 5 day chart and it struck me how
we closed the gap today...cool!! Wayne may make us TA
gurus after all<g>
I think since we closed this gap, had good volume, Monday
we will start testing 33. The main thing is the rates.
I think that has changed the whole psychology of the
market...much more bullish, so the market at a minimum, IMO,
has to try to test and see what's the upper level.
I think today, we've been held back somehow because of options
expiration - just a feeling.
I notice that some bears are downplaying the fed ease, and
a lot of times they use the excuse that the world problems
haven't changed and can't be fixed by the Fed. I think they are really underestimating the rate change. The idea is:
1) to lower the US $ and help E.Asia in total (and also
S.America). Even if Japan does not
make changes, there will be a lot of pressure taken off
the rest of E.Asia and they can start recovering much easier.
2) some bears say that we're not in a credit crunch, so
why do we need the FED to save us. First, I think this is
the main reason the FED eased. To G-spans credit, he thinks
this is potentially a huge problem, and he is just trying
to stop it from happening. Once it happens, it will be much,much
harder to stop it...there fore the pre-emptive move which
a lot of bears miss the point. Credit crunch is not something
you wait and see all the symptoms before you try to fix.
3) The Fed is on our side now. They finally acknowledged
big problems and indicated they will take ALL protective actions
needed. Well, just think of how many rallies in the past
the Fed has stopped just before we were about to make some serious
$$$. IMO, the tide is turning. The Fed will be creating some
new opportunities, IMO. Anybody who fights the Fed just cause
they think the Fed is wrong, is out of their minds.
So, my prediction, fwiw, I think we will test 33 or 33 1/2
within the next few days. The market will be bullish.
If we don't pop through 33 1/2 by wednesday close at the latest,
then we'll probably have to back-pedal to 30-31 or so and
consolidate some more.
joe |
