MG, Re: Chew and Chat
My trend lines are not dependent on market direction. I show the top of a very nice weekly trend over the last 2 1/2 yrs for IBM at $140. Yes, it has gone above it 3 times over this period for a short time, but in every case, thereafter, the direction was down.
Retail has been interesting to watch. I occasionally watch some smaller retail stocks (FDO, CLE, ROST), and they have had a tough time. Then we have S that is still down dramatically. Seems like the only healthy stock is WMT, and I'm not interested in it until it gets to $56 if ever.
You realize that if GE goes to $90, we're going to bumping our head on DJIA 9000. Amazing. Seems like it was two weeks ago that you were wondering if GE was a good position trade at just under $70.
As to the others, I'll get back to you. Trying to figure out why I bought LU this morning. But, in general, as long as OEX keeps closing above 523, I've got to stay on the bullish side. We knew the weakness in this quarter was going to be banks, brokerages, and big oil. Seems like the market is taking it in stride (so far).
Berney
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