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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium
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To: hotlinktuna who wrote (90917)3/30/2000 5:44:00 PM
From: sam  Read Replies (2) of 108040
 
I am leaning the other way. Indeed, I think we will have a positive day tomorrow -- although there will be several deep sell-offs through the day. Here's my rationale (which I feel has a legitimate 50% chance of being correct ;)): Bottoms have the "feel" of indiscriminate selling. That selling is often fear induced retail guys like us or "ham-handed" margin departments selling out of positions for retail guys like us. That is what we had at about 3:30 today. It's a "I know it when I see it" sort of deal. And in me, I know it when I start lining up the sell orders...and execute. I would have liked to have seen more concrete signs of a reversal -- like big cap tech stocks ending above their opening trade levels. Some did (like SDLI and JDSU). Most (like CSCO, INTC) didn't. All this said, the Nasdaq is clearly oversold this week. Four straight days of massive losses. There WILL be a respite. And I feel it starts tomorrow. We'll see.
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