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Monday, August 22, 2005

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Watching for strength into the close

We continue to be impressed by the strong relative performance by the Semiconductors and decent performance by the Small Caps. However, with only 35minutes left in the trading day, it will take a lot for the NASDAQ to approach our hoped for close of on or about 2150. The seasonal thin markets are making it difficult to rally enough of the Herd to the upside. If we cannot get the 2150 level, we would at least be looking to any close well above 2140 to keep the Bears at bay. Keep in mind, we will not hesitate to return to a more Bearish posture over the next two days should the stock market disappoint our near-term price targets. We are watching closely and trying to stay nimble.

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posted by Kleiner Capital Management, LLC. | 3:32 PM



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