Zeev, do you have any advice for 401k accounts? International funds? Bond funds? Money Market? These accounts can't be traded like my Brokerage account but I don't want to sit in money market forever if I have a reasonable chance of a positive return.
If you have a chance turn your eye over towards two stalwart chip makers. INTC chart may have formed a bottom although another retest is likely and TXN (not on a buy signal) still has to generate a buy signal.
Notice in the storage qlgc, brcd and emlx charts still look sick, this sector was one of the lasts to give it up after 9/11 but due to momemtum bounced the strongest. mcdta in the same space is on a triple top breakout although that can change quickly.
A little while ago (May, 11th -2002), in response to Mish's question on the Dow possible low (I have a target low for the year of 7500 to 8000), reporting that 8000 was indeed breached. At the time I gave a list (#reply-17455722) of the max expected hits for each Dow stock, I probably should have listed the then current prices, so I am reproducing this list with the then current prices, (the Dow was just around 10,000 then May 11th) as well as the target max hits (in parenthesis), I have now added the low (in square brackets) since then and the current price:
AA (- 11) $35, [$26.40], $27.00; AXP (- 19) $41.50, [$31.35], $31.65; T (- 4) $14, [$9.09], $10.44; Hit; BA (-12) $44, [$37.20], $39.92; CAT (- 7) $53, [$40.27], $41.41 Hit; C (-12) $44 [$35.00], $36.00; KO (-12) $57, [$44.74], $45.09; Hit DIS (- 4) $23 [$16.37], $16.64; Hit; DD (-6) $46, [$37.40], $38.30; Hit EK (-10) $35, [$26.64], $27.80; XOM (-5) $39, [$31.70] $32.40; Hit GE (-7) $31, [$25.25], $26.52; GM (-15) $67, [$42.10], $42.570;Hit HPQ (-8) $20,[$12.55], $112.80; HON (-10) $38, [$30.12], $30.21; HD (-7) $46, [$28], $28.70; Hit; IBM (-25) $80, [$66.60], $72.00; IP (-8) $43, [37.65], $37.83; INTC (-5) $27, [$16.26], 18.65; Hit; JNJ (-6) $62, [$41.45], $41.85;Hit; MCD (-4) $30, [$24.10], $24.17;Hit MRK (-12) $56, [$41.45], $41.50; Hit MSFT(-10) $50, [$48.00], $49.56; MMM (-16) $126.90, [$108.88], $108.88; JPM (-10) $35.00, [$25.85], $26.10; MO (-3) $55, [$40.30], $41.13: Hit; PG (-10) $93, [$74.08] $74.46; Hit SBC (-6) $31, [$26.25], $26.88; UTX (-10) $69, [$69.90], $61.64; WMT (-10) $54, [$45.65], $46.50.
Until last week, ten of these have hit, T, CAT, DIS, GM, HD, INTC, JNJ, MO, MRK and PG, and this week four more hit, KO, DD, XOM, MCD bringing the total to 14 out of $30. We are at 8000 despite the fact that 16 have not reached those levels (though some 5 or so are within a buck or two) simply because many have gone much further than in that target list. And we are only at mid year and only nine weeks from the start.
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