Tuesday, May 6, 2008

Some thoughts for today

CSCO will make or break this recent leg, but i think that when oil starts weakening and money pours out from commodities and into financials, tech will this rally really falter. What could cause the commodity collapse? USD? Opening of the SPR? OPEC saying they will increase supply? I am really concerned how the USO has rallied to almost 99! I think the QQQQ gap at 50.26 is a real target, and more so if I remember right, 2535 was an important point for the nasdaq last year.

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