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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: shades who wrote (66462)	7/19/2006 11:27:56 PM
From: yard_man	Respond to of 110194

>>Phil says the banks can't sustain the rally alone - semi's have to come to the party too - so he is waiting for a good entry point for the semi sector.<< seems reasonable ...

To: shades who wrote (66462)	7/19/2006 11:50:10 PM
From: John Vosilla	Read Replies (1) \| Respond to of 110194

So he expects to hold it together till the election then big down in 2007? That is possible if fed undershoots, no recession in foreseeable future and long term rates rise a lot in 2007. For now mr market trying to confuse everybody. Still leaning towards Oct bottom and rally into year end. Art Cashen called this rally confirmation of a double bottom. Only the Dow above the 200 dma so could be a head fake. But two days ago looked like a sure A-B-C down<g> 139.142.147.19 This semi chart is interesting and at a crossroads. Still in two year uptrend though it appears to be right at support. A huge move to the downside if the market is heading south. 139.142.147.19 If market is gonna tank either this fall or in 2007 why even bother with this nonsense betting on either side if semis or QQQQ's retesting the Oct 2002 lows? Just go on vacation in the meantime<g>