ogm it goes down presumably until institutions think that when they buy they can a make a quick profit of a modest 50% or so with a top of around 2,100 - 2,200 being the absolute ceiling for say the next 10 - 15 years.
So if you get say 1,400 then 50% on top makes it about right at 2,100 but 1,400 is probably too much depending on the depth of the recession and how quickly the FEd relaises that they have just blown put out the latest recovery with interest rises just as the business tails off.
So maybe 1,600 on the NAZ. Q2 earnings should be interesting if we think there have been a few misses this time just wait till July after the Feds interest rises have done some work. Then there is the Sep qtr which was until now not much of a subject of conversation at diner partis....now it is.
What say ye.....upward earnnigs surprises? Hmmmm
What a mess. I wonder how long it has been since we had an uniterupted spell of daily drops like thise this week.?
L
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