THE LAST BASTION OF HOPE FOR THE NASDAQ IS BREACHED
What is it about the Phase 4 types that makes them LILO? Yeah, LILO. That's "last in, last out". They always love to pile into the networking names and they are always reluctant to sell them until the markets have broken down completely and totally. Remember 2000? Phase 4 types were bidding up networking names as the whole tech universe was getting sucked into Greenspan's black hole.
Anyways, here is a chart of the PXQ (networking index ETF). It's looking like the Orcs have penetrated the fortress and are about to have their way:
click on the chart below to enlarge
PXQ (networking index)
