i called it was a once in a generation buy opp for good reason.
you won't ever see again 140% 4 year gains in earnings in your life time as far spx is concerned.
that was a once in a generation opp and you had to take advantage of it, not endlssly pss and moan and sneer it off.
so, after a 4 year ramp and test of major multi decade resistance and after a record setting 1st qtr ramp up,
and now all the issues that hang over the world gdp and world markets.
is what it is.
that action last thursday did feel climatic and i said so, and market was ragged and worn out and i said so.
techs have badly lagged market for two qtrs now and i don't expect their guidance to be good.
i think you will see crummy outlook as far as techs are concerned.
and several key players have already said as much. and it shows. techs have been beaten all year and past two qtrs. but rhere is more to go imo. this is historically the season for spring time tech wrecks.
most techs have been scrubbed down already and an argument could be made that it's already priced in,
but i'm not buying that. i think there is more work to be done.
if market is gonna hold these levels it's gonna be from other sectors that still show 10% earnings growth.
i dont' see some type collapse in market but changing ec and debt landscape can change.
i just see a meandering market, with jigs up and down.
that 4 year bull run was one for the ages.
and i did my level best to put it out there when it truly mattered.
instead, it always quickly devolved to an endless pssing match with whacked out trolls and terminal f ups and pseudo gurus and clueless hacks.
anyways, i'm tired of this board.
Businesses aren't spending on technology in order to to keep earnings up; they are not hiring to keep earnings up and profit margins high. They can borrow money at nearly zero which keeps earnings up and profit margins high. So if demand stays constant and the fed keeps printing money the market can easily move another 20 to 30 percent higher without any real improvement in the economy. Furthermore, population growth will increase revenue just due to the fact there are more people around that need stuff to live. Finally, the market has been Nationalized meaning the government can make it go in any direction they choose. If they step out of the way and you get a severe correction the economy is done so that ain't happening any time soon.