Support for the idea that the top may not be in yet is provided by the continued extremely strong action of junk bonds. The odds of a really big stock drop with junk bonds acting so well and credit spreads still shrinking are very small IMHO.
Zeev, do you think SNDK will bounce any time soon? Think it's worth a buy/hold (for a month or so) at this level? Also, I'm curious what your thoughts are regarding the LEXR/STEC settlement ...... wouldn't this raise earnings expectations for LEXR?
Thanks, JLS
p.s. Sorry about your disappointment with COCO yesterday. Took a lot of guts for you to go long when it dropped like a rock!
Where do you think would be a good level to position for the Jan effect? wait and see how the 1840 is handled or do you see a rebound from just below 1900.
Also, since it's the weekend, and if you time maybe you can tell us what stocks are most playable for the january effect.