imo i would be very carefull going long on any inuts from here,,i am noticing them trade right up to resistance and then fall off as they bounce,,i don't see any thing to propell them foward except this speculation of the "christmas rush "this xmas is different than ones in the past ,,1.we have y2k fears that will be overblown by the press starting in october,2.higher intrest rates coming as supported by the economic data,,,friday we have big numbers coming that could really tank the market ,,the employment number is very closesly watched by the fed,,and imo the biggest thing is the fed sais he will look at asset prices when deciding monetary policy ,,last years highs were reached in a low intrest rate enviorment,,plus we have about 10 x more nets stocks this year as last,,,imo the xmas rush is well into any of the net stock prices and even then they are still overvalued noe and imo that is a fact,,,ask yourself is ebay a good buy at 220 yhoo 240 amzn250 and if so at what price do you think it will go ? ebay 200,000,yhoo.240,000.amzn 250,000 ,,,,you can't argue with the data,,their is inflation. the cpi and ppi are not the best indicators,,i look at the dollar,the employment report,home sales,etc,,and equity prices,,
if you go long ,just be strong,but hope you're not wrong,,
best place right now imo is take profits on strength and than sit out until after the year,,,,, |
