Looks Like Another Trip Down

I was hopeful that we were done with the up-and-down stuff and were ready for blastoff, but I'm afraid it looks like we're heading down at least one more time. I say that because my Nasdaq 100 numbers show that people are still too eager to jump in on the positive side. Our high in mid-September before we had a large move down into the first of October came in with the Nasdaq 100 number at a positive 3.49. Then at the low we had come down to 1.75. Since then the markets went up and up, with the positive/negative number staying around 2.50 to 2.75. Then we had our little up and down of the last few days, and that number jumped back up to 3.43 today, almost exactly where it jumped up to in mid-September. So, as I said, I think we're going to get spanked a bit here in the next week or two. Hopefully people will be scared enough by then to not jump on the bandwagon so quick and we can get an extended move up. I would expect about the same move down as we had in September, where the Dow lost about 8%, the Nasdaq lost about 9%, and the Russell 2000 lost about 11%, or maybe a little less.

If we do go down about those amounts, I think it will be a good buying opportunity, because the next move up could be a big one.

Rob