Posted 10 April 2011 - 09:14 PM
I see this as a legitimate short-term concern that could lead to a short, sharp pullback or some choppy action for a couple of weeks - but certainly not worse than November's pullback at worst.
The market looks too healthy right now for anything more than that on the downside.
"Our job is not to predict where the market will go, but to interpret daily price and volume action to ascertain the facts of the current environment and make decisions based on that interpretation."
-Scott O'Neil (son of William O'Neil), Portfolio Manager at O’Neil Data Systems, when asked where the Dow would go in the coming months