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Non-Tech : The Woodshed
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To: Little Joe who wrote (5959)5/5/2004 8:23:45 PM
From: Michael Watkins  Read Replies (2) of 60919
 
I went long March 24 in a very big way (long since closed that one out) sensing that "carnage" had done its thing. The same sort of carnage, lower lower lower, thinking prevailed in the community then if I recall sentiment correctly.

Certainly there is an argument that anything remotely positive (except for perhaps company specific news) such as another blow out jobs report could easily turn the market on a dime.

However unlike March 24 I am not sure I sense the same level of pessimism. Could be my detector is acting up... LOL ... but it does seem that a fairly big constituency is looking for a repeat performance of the March 25 and onward run up, fueled part way up by the jobs report.

Still.. some sectors have really been eviscerated. Seems like the bounce could continue a little longer. Makes sense to be prudently cautious at least.
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