John,
my sentiment is that this bounce is just a short bounce. my reasons:
1. people are actually a little afraid of the potential rate hike, and are not going hogwild dipping in this little sell-off.
2. this may seem ridiculous, but the tv ads for e-trade has been a bit more sobering.
3. WSJ has been publishing articles about people losing their ass on nets and that includes buying the big boys----aol, yhoo, amzn.
4. it took a while for stars in other sectors to bounce----PFE, MDT, GDT, LLY, AHP---these guys have been taking it in the shorts---REALMAN has been busy. today, MDT is up because a bunch of analysts finally decided to upgrade this puppy.
5. if there is a rally, my guess is that it will be a rally where people unload and wait on the sidelines.
of course, with all the above reasoning, that just means that we're heading towards DOW 12k.
i'm the perfect contrarian.....well, maybe not as perfect as LUC---ho ho ho |
