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XMFHelical (< 20)

W(h)ither the S&P



January 30, 2008 – Comments (0)

Well, we all know it has withered, but where is it headed in the next three months.  That is the question (that I was recently asked).

So ......Helical-Karnak says......A nail, a board, and a subprime lender.

 No wait - wrong envelope Ed

(How do I imbed again, I forgot).

The answer is.....UP.  But not much I'm afraid.  I think we hit a bottom, and the S&P will head back toward 1400 over the next 3 months.  But I don't think we'll see 1450 and if we do, it will be followed by a pullback.  In fact, I think we are due a pullback from here - but 3 months out, banks will still be reporting lame numbers, but will be forecasting positively - so the market will react positively.  It may break above 1450 after the summer, but not before.




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