Markets are showing that a base has been formed.....no matter what comes its way....sub-prime or slower economic news...do not matter anymore......why ?...because it is all discounted and markets are looking beyond fed cuts.......
Markets will rally into tuesday and then....the usual gyration....then settling down to "new reality as articulated by feds"......
Advancing stocks led decliners by 300 on both NYSE & Nasdaq.....
RIMM got two "increase in price targets by BMO & RBC"RIMM price targets are between
$100 & $120...before earnings on Oct 2nd......after ER....expect another boost in estimates & stock price targets.......
Madman Jimmy the Cramer named RIMM as the-stock for his wide reciever category...he predicts that RIMM'S stock price will "double again".........
CMED went to new 52 wk high by closing @ $38.59 on heavy volume of 1.5+ million shares TRIPLE the average volume...further UP AH......good chance of getting past all time high of $44+
SNDK recovered today UP $1.30...totally oversold......
NVT UP $1.08 on more than DOUBLE the average volume......
VMW UP 13 Cents on average volume...UP further in AH....
By 10 AM saturday I will have a list of stocks which is technically weak/strong/momentum....
Have a relaxing weekend.
BLOG does not give buy or sell.
Saleem
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