Hi Harry. Acampora's call for 11,500 on the DOW is nothing new, as you know. The media has a bad habit of publishing supporting articles when the market goes up or down, to justify the move.
My range-bound call has been for the NAZ in the short-term. I've said many times in the last month that the strength in the DOW was broad and a reflection of our strong economy and it should rise above 9600(new highs back then) and beyond..............Yesterday, they firmed up the NAZ's heavy weights because without those five stocks(& SOX), the NAZ couldn't go any higher.......so there should be more upside in the NAZ , within the context of its range-bound move............BTW, lots of money has been made in the last couple of weeks in the internet stocks so range-bound or not, it doesn't matter........as far as 11.5k, that assumes that all the 30 components of the DOW trade at their highs, something that has probably never happened before. 11.5k for this year is a stretch, if you ask me.
As far as PWCC, the greater fool turned out to be myself. I admit it. I take my $4500 loss and move on. It is just a trade and a very small loss. It is that simple. No fuss. I am not going to extract and read every article ever written about them, pray, fool myself, and hope that it will go up to 18 so I can break even. What a waste of time and more importantly "energy" for those who practice this.
A side note: The locals who sign up for the internet access with FLAS($15-$20/mo) are not happy with the service(busy signals, slow access, poor service) but they should shut up because they got what they paid for.
Later;
Clint |
