Don Bright thinks market is "way overbought" !!!

Discussion in 'Wall St. News' started by Jaxon, Oct 13, 2007.

  1. Jaxon


    In case you missed it, today's Wall Street Journal,
    and frequent ET contributor

    :D :D

    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.
  2. Can you paste a link to the article?
  3. Jaxon


  4. tech stocks are overbought
  5. 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) 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,

  6. Way overbought? Yes, absolutely!

    Time to short? Not yet.
  7. Well put, crgarcia. I remember 1998-2000. Everyone thought the techs were overbought, but they kept on defying gravity for a long time.
  8. I am going to stamp that on my forehead right now, no better get a tattoo on Monday.
  9. andread


    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?
  10. LOL

    Don :D
    #10     Oct 15, 2007