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Strategies & Market Trends : Dave Gore's Trades That Make Sense
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To: Dave Gore who started this subject12/18/2001 2:30:38 PM
From: Dave Gore   of 16631
 
RULE #1 - NOTHING IS FOREVER!

You know what I think the biggest mistakes people make are?

MISTAKE #1
I alluded to it at the end of my last post. It's believing anything will stay the same for more than a day or two. The rally off the September lows was an exception, but most of the time, the market (or a stock) will go up (or down), only to do the opposite in most cases, the very next day. Even breakouts or breakdowns and other indicators are less useful than they used to be and news can be sudden, especially around earnings warning season (which we are in now).

MISTAKE #2
The second biggest "no-no" is that history will always repeat itself. Sure, the market often has a Santa Claus rally and/or a "January effect". But the rally was so dramatic since October, is it possible that THAT was our rally this year and even early next?

Sure, it is. That said, the biggest thing to pay attention too going forward, IMHO, is what sectors the money is rotating to (i.e. techs to biotechs or consumer to indusrial stocks) and which companies are issuing decent prospects going forward versus those that aren't. By paying attention to the latter, one can also get a good idea as to whether certain sectors or the economy as a whole is recovering.

Keep those index readings on your screen and stay tuned to Briefing.com for their "live" headlines.
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