WARNING TO ALL INVESTORS!!!
I'm long on SEEK and believe we will out do LCOS, XCIT, and yes YAHOO. However, everyone must be careful not to give into exuberance. Let us not forget what is looming ahead. WallStreet will be hit hard on Thursday as IMPEACHMENT will take center stage over the stock market. Expect overseas markets to react the same. Hard rallies will be quickly erased by mid-thursday. The markets are creating another SHORTING opportunity. Also, triple witching on OPTIONS expire this Friday.
I would caution people who read about SEEK making new highs, 50's, 60's, etc..in the next day or two. One thing the market has shown is that it cannot sustain rallies. As long as our Presidency is in question, this market will not be able to RUN to higher levels much less DOW 10K.
Resistance seems to be 50. There is too much volatility in the market. Use caution and don't get caught in the hype. The markets can turn on a dime sooner than you think. Sell into strength. That has always worked for me. Is better to have realized gains than to remember what you could've had had you sold. Most of the time people sell into weakness for fear of deeper losses. This is the practice that keeps investors in the red.
Instead, buy into weakness and sell into strength. I guarantee you will always come on top. However, if you buy into strength you better pray the strength continues 'cause if it doesn't and the weakness gets you, I'll be buying your shares a whole lot cheaper than you did.
My 2 cents!
Hector |
