q;
>>What do you make of the movement tomorrow? <<
Have to wait and see. I'm sort of neutral at the moment.
>>I feel strongly that there is no reason for a breakout
right now.<<
Depends what you define as breakout. I don't think
we've talked about it much. I've come to think, that breakout
is heavy volume into the 38-42 range. All, this going on
is a process of getting there. I would not be too discouraged
because we see bouts of institutional buying. Also, I
think possibly that lows are getting higher. IMO, once
institutions are in it will be easier to trade COMS.
Right now, 1/2 the times it's unpredictable....
BUT, ONE SH*TTY DAY DOES NOT TELL THE WHOLE STORY.
Same thing happened Oct 21. Unexpected dive and everybody
was calling for 24-25 again.
>>Besides, you have 35, 38 overshadowing the whole situation. You have these people who bought in at 38 and 35 tops earlier this year waiting to dump when they see such prices again.<<
I agree, we have some old baggage that maybe hasn't been
discarded yet. We'll see when we get there.
But, that doesn't mean we have to go to
20's, so let's see. Also, may get another few rate-cut this
year. I'm big on rate-cuts. Guaranteed market rallies, IMO.
>>Mang, by the way?<<
He's in HK and China for about another 3 weeks.
He wanted to see the ASIAN flu for himself<g>. I'm interested
to see what he thinks about HK.
>>while this dog is out for a walk.<<
Everybody knows COMS takes patience. Institutions are
loading up while we're not looking.<g>
good luck tomorrow,
joe
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