James, I like Ralph he called it right on last July, but right now caution is blowing in the wind again and it could get a little hairy in here for the time being. On the outside, we could see 1115 on the SPX, 1160 is critical.
I'm cautious now too because of negative announcements coming from MRK,IBM,JNJ,BO,MMM to name a few multinationals. However, i believe Ralph is right this is and will be a stock pickers market. Good news from Csco,Orcl,and Intc though. In addition, CRB Index has broken below support suggesting additional follow-through to the next near-term target of 186.00, not too good after three rate cuts and notice the divergence of 30 year bond yields and TBills, my main premises has been the convergence of these bond yields and a widen yield curve. Oh yes, always something to worry about, nevertheless, time being i will remain a cautious Bull.
I'm only cautious because of P&G. If you can name me a better corp,
please do. <<
IMO, Yhoo...I wouldn't know what i'd do with out them for information, etc.; i use them daily now. ;-) |
