Kelly, my turnips are getting tired of repeating their forecast, the low of this small swoon was last WED, Friday was a DELL self inflicted wound. They expect long term interest rates to abate a little allowing the market to resume it advance. They see a new marginal high in the NAZ and possibly the DOW, but no 10,000 in the picture here. They also see a spring relapse and hope this relapse has not started before the rebound from here took hold. PROG still looks good, not too giddy yet, but if the thread IEI exceed 3, beware since we will get another swoon down. Keep this exuberance in check.
The rosy picture does depend on the long term interest rates abating here, if they reach 5.5%, I'll have the turnips for lunch and get myself some eggplants, because the spring relapse will start some 6 weeks ahead of schedule.
As for my forecast for the year, it took into account some $20 MM in internet sales above the natural 30% growth of the rest of the business I expected, so my forecast need not be adjusted yet. Let see if they can roll in some $80 MM in sales in the first quarter.
Zeev
Zeev |
