Zeev, I agree that those indicators are still OK. No problems, however here is one that is not so good. Perhaps we have seen some distribution after all. If so, they have gotten damned good at masking it.
The Nasdaq Summation index on a 150 point box. Interesting to note that once the 3 box reversal happens, it usually carries for a while. Nasdaq bullish percent needs another 0.74 for a reversal.
Seems to be slowly turning, but that said, I am looking for longs here. AMAT seems like a good choice. Will take it day by day.
Agreed it has been primarily a SOX driven event but will spread to other sectors as 2004 plays out.
MSFT GE BP XOM (in edit add GM) going to get a wacking sometime soon.
Fred L brought up EASI this morning so there is always money to be made when govnernment is doleing out cash. It is just a little harder to find those stocks going to appreciating at these valuations.
SNDK is suspect IMO due to September timeline for request to Tawianese law firm to sell and their ultimate response and corresponding secondary offering underway at same timeframe. I see SNDK going to get stockholder lawsuits to prove that SNDK management didn't have advance knowledge of fraud before secondary offering hit.
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