I can see clear a rally lasting ALL of next week.....if IRAQI elections go "rather" OK and BUSH can deliver an UPBEAT STATE....and people buy into it.It is not going to be easy for him to pass most of his 4 yr initiatives.
4 yr cycle high is probably already here, IMHO market if this holds true again should bottom in 2006.I am concerned, should I be long (not yet)that the market has now snubbed earnings news from INTC IBM EBAY and MSFT, none of which ignited any kind of TECH rally or otherwise, in the case of EBAY it got its head lopped off by $20.
MSFT news, even with "nervousness" about IRAQ elections Sunday, should have been near to the days highs! but it closed little changed from 4PM Thursday close, it was up over .50 THURSDAY A.H. which was really a yawner when you consider "record earnings".
If I was a real grouch I might consider all this a sign of a top in earnings, not the beginning of something good and progressing.And I wonder(dangerous) if the market senses that SOON we should be seeing what earnings look like with STOCK OPTIONS EXPENSED.....even though the comparisons will come without.....but I bet you.....there will be a lot of what if earnings.36 soldiers DIE, the market rose that day.
Iraqi elections go off OK, how does that make things better here? How does that help US economy? deficits? debt? lack of savings etc?WHAT IF...........there is a weak turnout?
ASIAN markets overnight Sunday would be good place to look for how it will be taken.
UNless they ASK US to leave, the election per se does nothing for getting US Out any earlier, IMHO BUT....if the ones playing see blue skies, up she will go.....maybe with a tad of wind in her sails.....I will be open to that potential.
AS no guarantee, and other market fundamentals as I see them....I rather NOT position, and wait and see.
Duratek
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