Donald,
from the less technical news front, it appears that we have had nothing but good stuff since the surprise Fed rate cut. Anything from IMF, Brazil, Japan LDP plans, corporate earnings ..... are all reacted to as if they are good news. Looking at the PEs of DELL, MSFT, CSCO, INTC, could the street be singing "happy days are here again" a little prematurely? With such complacency, the market is most susceptible to surprises.
My question to the technical gurus here - what if we have a bombshell the size of the Russian disaster, where do you see the market support may be?
Ramsey |
