dapro, Where does your 50% retrace meet in the market?
DOW 12,500? 12,100? 11,400? Or lower?
I'm thinking that we can get below 11,000. It won't be in a straight line. The selling has been rather strong and could climb a bit before we start another earning season. I really don't see many roses in the coming picture for 2Q08 or 2H08. 2009? .... I've my doubts. There are a few that will prosper in the next few years and it may help MRVL to be coming back from such a beating that it's went through, but the tide going out lowers all ships in the harbor. This could hurt everybody, including MRVL. They don't have enough cash and 1 massive debt that will be paid for quickly, if they can stay afloat. The INTC deal hurt MRVL, but gave it what may be a more solid cash flow to stay alive. I didn't expect MRVL to gain it's share price much until Sehat and Pantas need to hit their PPS goal for the option awards. I think that was Jan'09 or '10. Maybe '11. The overall market will feel the financial's pain. Lending is being choked even to businesses that were doing great. It's a bank problem and it's very big.
Play the swings, make a little. Trader market for 2 to 3 years, I think. Holding may be nothing but a race to get to where you were just standing.
But hey, no banks failed Friday. Comptroller and FDIC could have made double time and a half working through the holiday.
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