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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject4/13/2001 11:58:24 AM
From: jeffersonkeith   of 37746
 
Morning everyone! I would just like to clarify to the lurkers et al that this Thread is truly elastic and both long and short are played in direct respect to the prevailing market environment. The trend has been down, thus there has been an abundance of shorting and until this trend is broken I like many will continue to short the still many richly valued stocks. The NAZ hit a new low on April 4th of 1620 and has since bounced back to where we are today...the DOW has bounced from roughly 9100 in late March. Who knows where exactly these corrective measures will take us (although Velo has been nothing short of magician at calling it so far) everyone must take what the defence gives them no matter how insane we may feel it is. And I for one still feel the prevailing valuations are outlandish and specifically both the DOW and S&P have yet to consolidate. Calling time frames is very difficult and I am truly amazed by the TA done by many of skilled individuals who post here and elsewhere but IMO it doesn't require advanced TA to throw up 5 year charts of the S&P and DOW (coupled with socio-economic conditions) and speculate that consolidation at much lower levels is in the cards. And you know what, if by chance I'm "totally out to lunch" and this Bull runs hard I will be with it step for step, day by day just like everyone else here. Kudos to everyone for their continued input. Have a happy Easter everyone! Jefferson
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