If you can call the bottom on this chart.. i guess around 400-420 or so--you might find the overall bottom here and we are very close. The guys who were cautious are now the heroes but after all they are all a bunch of jokers who are coming out now after months of being ridiculed. Because i follow chips i saw this coming i guess. I kept asking wahz how can this be google at 750 and amat at 18?? Well yesterday amat was up a buck and sons went up while high flyers continued to crash. The momo guys got crushed as did foreign players looking for growth in the US with all those dollars they held. There was a bubble there caused by the other bubbles and the falling dollar. That foreign money will now look for safe havens here. Watch what they buy. Its also a stock pickers market re: financials. I bet WM gets bought by a white knight in order to save them. Same with some others with big exposure. Goldman Sachs is always a buy and Lehman is strong too. Merrill might end up as a takeover candidate. Back to the charts. If the soxx holds at 420, they will start the advance even as the high fliers fall. Maybe oil is in a bubble too and about ready to fall for similar reasons why growth died last week. As for wahz, i think its always been growth at reasonable multiples. The bulk of his stocks should do fine from here.
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