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At 01:23 AM 7/23/2004 +0000, you wrote:
>Been going down lately, has it stopped? Maybe... Ready to go up?
>Maybe... How far up? SPX 1120? 1110? 1135?
Looks like typical summer doldrums coupled with the after shock fear of the
tech bubble burst 4 years ago. Many tech low caps are getting really cheap
including those with real earnings but it wouldn't surprise me if the
markets continue to fret until we get a good day of capitulation. Maybe a
400 point, one day drop in the dow would entice people back in but fear is
rampant and many firms are not making the huge expanded earnings outlooks
over-zealous analysts set for them. I'm currently 50% cash and about 50/50
long/short with what's in the market.
Hope everyone is having a great summer.
Bob
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