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Strategies & Market Trends : Ask DrBob
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To: Drbob512 who started this subject10/1/2000 10:23:16 PM
From: indexit   of 100058
 
Charts are still the same, very mixed. Some technicals and formations signal go long and others look like shorts. However have been picking up basing activities for a few days and think we will see upside activty in a lot of techs on Monday and also select finicials. Some oils look like they are topping so may indicate (as has been actually happening with oil prices) one troubling sector which has been dragging down the market may be improving and chemicals also appear to be basing and also indicating a bit of relief in the oil sector. Drugs appear to be topping indicating the market may be ready to venture out of safe havens. (As the previous indicates I have been looking at a lot of sectors to get the feel of rotations/market direction). 3750 looks easy for NASD on Monday and possibly in this change by the mood by day market with earnings warning season behind we could see 3800 very soon. Lots of bad news has been laid out.

Long select techs and brokers pre-market or open. Try to hold for the day, Long overweekemnd and hope to hold those all day unless they look weak in pre-market.

I have not been chasing spikes for about a week, in fact have been shorting. Monday may be a day to chase breakouts, especially stocks looking strong at the open. I think this may be one of those days when they keep going.
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