Like tech2k, I think the markets will move strongly upward next week.... for a couple of reasons:
1. market charts (NAS, SP) have a cup (Aug-Nov) and handle (dec) look... someone mentioned this on CNBC and it does look like the O'Neill CANSLIM formation popularized in his book (How to Make Money in Stocks)
2. Internet mania. In contrast to bowling ball mania or radio mania, this is the beginning of a real change in how we all communicate and live... maybe EBAY, UBID, and AMZN won't go up forever, but WCOM, CSCO, MSFT, and a ton of other stocks we haven't heard of yet, will benefit.
3. Money. Still a big chunk flowing in in Dec. It has to go somewhere, and it isn't going in t-bills.
Everyone (ie CNBC commentators, brokerage house representatives) say that the market can't go up forever... we should have a dip in February... etc. Maybe it is just my optimistic outlook as a result of being a graduate student and enjoying a pretty kick back lifestyle, but I think we *may* be on the early upslope of a "long boom" which was described in an interesting wired article a few years back... check it out...
wired.com |
