Friday, March 23, 2007

Abby Joseph Cohen (and More!)

  • If you missed Squawk this morning, you missed Abby Joseph Cohen! She's running with the bulls and predicting 1550 on the SP500 by year end.  How do you feel about Abby's predictions?  Might want to revisit my SAY WHAT, Abby Joseph Cohen?
  • And her target of SP500 1550 by the end of 2007 is only 25 points less than her 2000 year-end target of 1575!
  • The market flatlined today.  The bulls will say that the past two days are perfect after our confirmation rally.  Resting before folks pile in and drive this thing up.  End of the month is coming, which will see 401(k) additions keeping the buying pressure on.  They'll also say that the bad news of sub primes and a slower GDP are priced in.  Nothing to worry about.
  • The bears will say that corrections don't last just 3-4 weeks, but more likely 8-12 weeks.  Confirmation days within this short of time frame are suspect and very likely to fail.  Everyone is too bullish again.  Semiconductors looked just awful yesterday, giving it back just a day after the follow-through day.
  • Me?  No change in my market views from yesterday.  You?
  • Some great games in the NCAA yesterday, and I only saw the late game.   Ohio State with the incredible comeback.  It was a terrific game!
  • With so many states moving their primaries up to February 2008, we'll see lots of campaigning in 2007 and the candidates will be chosen by February.  Then quite a lull until November 2008.  I think it'll be Hillary vs. Rudy in the "battle of first names." 
  • More good news, at least initially, for those on the low-carb dietsIn a study of overweight and obese people, those who went on a low carbohydrate diet lost more weight -- and more fat -- than their peers who went on a low-fat, portion-controlled diet.
  • Is Melissa Lee still on CNBC?
  • I hope you don't own Vonage.  Judge hits Vonage with injunction.  Ouch.
  • It's friday.  It's late in the day.  It looks like things have settled down here at the Fun Factory.

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