Steve,
I wouldn't put any bets on anything right now. Anything
is possible.
I wouldn't be surprised to see us go down a pt or two(maybe)
and back up to $48 by mid Dec.
IMO, the market is incredibly volatile, maybe more
than ever (I'm going by what I've read historically
about the market, but can't confirm
it since I've only been in it for a short time). It's like mixing
fire and gasoline. Some people feel like there's no top
to the market, and it has unlimited potential (sort of the
way we feel about COMS; except I wouldn't assign a price
of $80 on it at this point in time, but there are a lot of other stocks, internuts for example, where people will pay anything
for them), and others think it's the preliminary
catastrophe before the end of the world in the year 2000.
btw...today was low volume (good sign, IMO). I think a lot
of the hi-tech big caps also went down on lower volume.
So, new trading range? maybe, maybe not. I don't think the
answer is that easy. Something bigger is going on IMO.
joe |
