Making some buys into the gap down. Looks panicky to me and we should thrust higher during the day. ES 1252 is where we started the year and a gap area. It should be strong support.
Be careful, Japan and Japan only makes critical parts for every iPhone iPad, flat panel TV that Japan either only makes or controls about 90%, this market has been tech led... and tech names risk getting crushed.. plants are shut down in Japan due to no power and nobody in the US is getting their widgets.. add to that Taiwan and Korea which also depend on Japan. Watch for Apple warning about this along with Dell, Cisco and others, NDX 100 is going to 2100. I'd buy Japan and sell US here... in fact I have done this.
Be careful, Japan and Japan only makes critical parts for every iPhone iPad, flat panel TV that Japan either only makes or controls about 90%, this market has been tech led... and tech names risk getting crushed.. plants are shut down in Japan due to no power and nobody in the US is getting their widgets.. add to that Taiwan and Korea which also depend on Japan. Watch for Apple warning about this along with Dell, Cisco and others, NDX 100 is going to 2100. I'd buy Japan and sell US here... in fact I have done this.
ReplyDeleteNice call.
ReplyDeleteThanks. I am out now, the market looks more bearish than I first thought and think we'll go even lower.
ReplyDeleteI have a hard time seeing much more than a marginal new low since we are getting oversold.
ReplyDeleteYeah, I think we could go down to 1240 on the ES.
ReplyDelete