Well, the NAZ rallied today while the dow fell. A good sign for the hi techs, nearing a trading bottom, double bottom, bowl, bottom of the V and a host of other terms that prelude such things. What I found interesting today were some of the retailers, also that Placer Gold got put on a downgrade, forrest products generally did well portending a pickup in housing (springtime, it should be expected).
I envision stocks sometimes as herds of animals on the Seringetti. The fast gazelles, impallas and other high techs have stampeded but are now slowing down, some have even turned around. BUT, what happens if the elephants, rhinos and water buffalo (the dow stocks) stampede. Will they set off another rout in the high techs?
This certifiable envisioning thing only happens on Fridays... thank goodness.
Have a great weekend all.
Jim |
