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Strategies & Market Trends : Sharck Soup
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To: Bid Buster who wrote (23540)5/17/2001 9:08:21 PM
From: DlphcOracl   of 37746
 
bid buster: "Is this a new bull-market?"

For the short term to intermediate-term, yes.

My guess is that the Dow and NASDAQ will continue to work higher over the course of the month. My target would be Dow 12,200 and NASDAQ 2500. All bets are off as to how the markets react to Q2 earnings warning season. However, I do not think either will retest the March and April lows, with a 10-15% correction at worst. After that, the Fed interest rate cuts and increased liquidity will kick in and the bull market will resume for 3-5 months (IMO).

I do NOT see this as the resumption of a LT bull market, however. This bull market will be purely liquidity driven. The real downside action won't occur until late 2001 and early 2002. This is where the markets may retest the lows set earlier this year.

Just my opinion. However, I think the days of shorting stocks as if one were shooting fish in a barrel are over for the near term.
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