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Strategies & Market Trends : Ask DrBob

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To: gongoman who wrote (23625)	2/14/2001 9:32:46 PM
From: idealist1	Read Replies (1) of 100058

gongoman, our friend MERQ gained 11 points on no news, closing above 77. Just two days ago Solmon Smith Barney reduced the 12-month target to 80. What are people thinking about?? The shorts made a daring end-run to cover near the close. Got whipsawed today and lost on 2 of my 3 shorts. To make matters worse, I had no confidence in the rally until after it had already made its mark. What for tomorrow? If 2500 is taken out and holds, I'm going long several big positions, but with a nimble trigger finger. I don't believe this is the "big" rally, but a technical bounce. More downside is needed to bring the valuations in line with the earnings. You are right that nothing on the horizon will lift prices significantly. I want to make lots of money on the next downdraft-- going short. idealist

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