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Strategies & Market Trends : Sharck Soup

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To: Jim Spitz who wrote (30324)7/9/2001 11:23:39 AM
From: Electric   of 37746
 
Jim,

I dont get the short feeling in my bones for the next few days...I stand to the down/up theory, the naz had been down 5 days? in a row, following a similar pattern 4 previous times dating back to April. I tend to believe we will rally for a few days, there isnt any news and there arent any warnings comming that ought to really rock things, so I feel the prudent play is to stick with the stronger names who held in there during the last drop, and play them to the long side.

Notice HLIT is at the HOD as I type this, I feel this stock can hit 12 with little resistance, look at the chart it is quite strong.. Also biotechs seem to lead the naz in both directions, I consider their move today to be bullish. I would not be suprised to see the market (naz) up for 3 or 4 of the next 5 days.

Take care..
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