Luc,
from my cursory read of the various threads that I follow, all the traders and bulls remain extremely confident that this CPQ thing is a non-event..........a time to buy on the dip......we'll see.......
the market has been unbelieveably resilient, so my brain says I should agree with them, but my gut keeps telling me to believe that we may actually start a little correction here......
here's hoping for a 10% correction,,,,,I really don't see a crash coming......just not enough bad news out there.....
my brain says------the economy is good, inflation is in check, interest rates are reasonable, dollar is solid, gold sucks, companies are beating earnings (after they've been chopped in half), traders (and they're a huge part of the overall picture) remain bullish.....my guess is that until the traders get crushed by margin calls, we dip, then rebound........
my gut says-----kill this POS market already,,,,,,it's overextended, it's up without any rationale, earnings are downgraded and PE's are out of this world......the A/D line sucks, net stocks are up 20-50% on a daily basis.....
again, I think it comes down to traders getting hammered.....they dictate a huge part of the daily moves and they're bullish......
it's just a thought.....
dow 4-5k? come on,,,that's way out there in outer space........
mike |
