Don Bright thinks market is "way overbought" !!!
- Thread starter Jaxon
- Start date
Can you paste a link to the article?
I have the print edition delivered to my home (courtesy of airline miles)
but with the help of Google, I give you:http://online.wsj.com/article/SB119224232269758211.html?mod=googlenews_wsj
tech stocks are overbought
Don't take this too seriously guys...I also told him that I have had the same thought for quite a while, LOL. Mr. McKay (great guy), failed to mention that I also don't plan my trading around my "thoughts" about direction (good thing, always neutral)....LOL....you can read my many posts that say directional trading can be a real nightmare.
I haven't read this particular article yet, but will soon... and if there is anything else pertinent, I will post here.
All the best,
Don
I haven't read this particular article yet, but will soon... and if there is anything else pertinent, I will post here.
All the best,
Don
Way overbought? Yes, absolutely!Quote from Jaxon:
In case you missed it, today's Wall Street Journal,
and frequent ET contributor
Market sure is overbought. I wouldn't be surprised to see them ramp it up again overseas on thin volume early Monday morning so we have another gap open.
Time to short? Not yet.
Well put, crgarcia. I remember 1998-2000. Everyone thought the techs were overbought, but they kept on defying gravity for a long time.
The potential stumbling block to that rosy outcome, according to bears, is the lingering risk aversion among some investors, spurred by worries about sluggish economic growth and problems in the mortgage market. The bears worry that such jitters could keep investors from extending the recent market rally, especially if their buying would have to outpace the anemic profit growth.
Don, is this the reason why you think the market is overbought?
Don, is this the reason why you think the market is overbought?
LOL
Don