Zeev ... regarding a US equity top and possible Nassacre.
1. From your fairly recent comments, I gather (maybe incorrectly) that one of the critical things you think is a missing ingredient before a serious COMPQ slump in March-April 2005 is some over-the-top bullishness and optimism in tech stocks. And since the COMP has been relatively flat, and is not now even approaching 2100, you have your doubts.
2. I also understand that your focus is on the COMPQ, and not the NYSE.
However, considering that the S&P 500 has now had its highest close since, July 2001, the DJIA has now had its highest close since June 2001 and the NYSE Composite just set an all-time closing high, my argument would be that maybe tech stocks are not going to lead the way down, but that banks and financial service stocks might lead the way, and drag the COMPQ with it.
That scenario would not surprise me at all.
When you have time, what would be your thinking on this approach?
Thanks ............... Ken Wilson