NMS has tracked market sentiment pretty well over the post-subprime mess - just magnified about 10x in percentage terms.
Very positive signs are emerging re: the market in general - volatility has plunged over the past four weeks - and the market is putting in a slow but steady uptrend. Last time such a dramatic drop in volatility occurred with an emerging uptrend was in 2003 coming out of the last bearish period and into the four-year bull market. Now I'm not going anywhere near predicting another four year bull-market - but it does look very strongly like the market had bottomed and is slowly picking itself up - even some of the most bearish analysts are starting to come around to this and recommending re-entering the market.
This is the very best environment for specs/mid-caps - especially coming from a tremendously oversold position on quality specs/mid-caps. I have been seeing strong growth in my spec portfolio gaining an average of over 1% per day over the past four weeks.
If this becomes an established trend (and after posting this no doubt the DOW will fall 2500 points tonight!) then continued good news from NMS will see this fly to past old highs over a period of a few months - and I suspect there will be plenty of opportunities to get in on the long climb upwards (though always best to be in near the bottom). I'll be back in once funds are available.
NMS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
