>>>Clint, How does this market look to you?
Good but not Fantastic yet.
>>>Are we going to hit your 2315 target this afternoon?
I think there is a strong possibility to close above 2300. The DOW is going to take out 9400 this time. Remember last Thurs. before we were hit with DELL news on Friday morning, I talked about the NAZ and DOW separately and mentioned that the strength in the DOW is broad.
>>>Great call by the way.
Well, I am glad that somebody noticed that.
I know I make some controversial calls but I stand by every one them. We've been hit with one major bad news after another, just as we started to firm up and start heading higher.
>>>What indicators led you to go back 100%?
I went 100% in one shot(instead of my usual 25/25/50, 50/50, or 33/33/33)for one simple reason. I believed very much that I was hitting the bottom and wanted to be there ahead of everybody else.
I use different indicators at different times to pick the market bottom so it is never the same. If you were to ask me what the single most important indicator was this time around, the answer is 50 dma of csco, intc, msft, dell, oex, nasdaq,......
There were many signs that pointed to a bottom yesterday. Maybe we talk about them this weekend. Again, some of them are different in every round.
Clint |
