Monday, March 05, 2007

perhaps there is just too much bull?

Ok I’ll admit it yes I got a buy signal and yes I was aware of the low volatility and investor apathy toward risk ,but what I thought out weighs all was the sheer fact that the US market has so significantly under performed since 2000 and has by my measurements not even keep up with inflation ,while the economy has steamed along very nicely. What do I think now ,well I think that we will come roaring out of this correction when its finished .The DOW looks like it needs to go a bit under 1200 and the S&P looks to go a bit under 1320. As for NASDQ the jury is still out for me but my first guess is 2300 then as low as 2150-2100. My biggest issue again is there is just way to much bullishness especially by Wall Street firms…

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