Hi guys, been away for a while; death in the family and other things that takes away from BITOG time. Glad to see you're all making money.....
Here's my take on the market, FWIW: This little rally will probably take us up to near 14,000 Dow, but not exceed previous highs. If this happens into Jan, it forms a double top so look for a severe downturn in Feb possibly as much as 15% over several months. 2008 will be choppy but we can trade the rallys if we're quick. Bear market area is 20% down, but I don't see the major averages getting quite that low.
I still like defense stocks for 08. Bush announced a 10B sale of Patriot missles to UAE yesterday, with RTN and LMT as prime contractors. I think these overseas sales will continue for the next several years.....
Here's my take on the market, FWIW: This little rally will probably take us up to near 14,000 Dow, but not exceed previous highs. If this happens into Jan, it forms a double top so look for a severe downturn in Feb possibly as much as 15% over several months. 2008 will be choppy but we can trade the rallys if we're quick. Bear market area is 20% down, but I don't see the major averages getting quite that low.
I still like defense stocks for 08. Bush announced a 10B sale of Patriot missles to UAE yesterday, with RTN and LMT as prime contractors. I think these overseas sales will continue for the next several years.....