Another day, another dollar. Well, we got back about half of what we lost on Monday, about the same as the overall Nasdaq. Volume was kind of weak, but I guess that is to be expected as folks lick their wounds. Still, I am glad to see us hold above the support level of $64(the previous resistance level before the breakout two weeks ago).
The question across the board is: Are we seeing a "dead cat" bounce, or will the market make a sustained recovery? Personally, I believe the true Internet stocks(read: WAY overvalued) will take a while to recover(some won't see their yearly highs again until next year, if ever, IMO). NT, on the other hand, will not revisit last week's high i the mid-$70's until analysts hear and digest the report/conference call next Tuesday, IMO.
We can wait that long, I guess.
Paul |
