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Technology Stocks : Stock Swap
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To: bob wallace who wrote (9656)11/16/1997 10:21:00 AM
From: Patrick Slevin  Read Replies (2) of 17305
 
This week is very difficult to call as to direction. COMDEX is generally very bullish...

...some twits always come out with product announcements and the media sez oooo and aaaah. Big deal. I noticed that a lot of Japanese fans did the same thing while watching Tiger Woods....gets old after a while.

I'm still not bullish, these things take time....a buy and hold strategy is tough to work because of the wild swings. If you can develop a feel for short-term trend you might possibly be better off.

But sure, I think the spyders will at least be in the high 80s before Christmas. Although Kevin thinks the little dip a few weeks ago was a correction I still think we have a reversal in trend....I don't have that computer up so I cannot see where the moving averages are.

I just happen to be reading a note that says the break did not have the qualities of a major bottom, having a limited number of lows relative to major past bottoms. So it's either a minor correction or a precursor to more downside. This is from a report from Gene Inger, a newsletter writer. I don't follow that logic because I don't analyze that way, but it's good to see how/why others come up with stuff.

Now that everyone is okee-fine about SE Asia the next hot spot to set up a selloff may be Japan selling off. This has a chance of happening tonight.

On the other hand, the biggest rally may come from a resumption of combat against Iraq....this is not hard to do, as there is no peace treaty with Iraq, just a cease fire so France and Russia would have nothing to say about it. But once Hussein is fried for real this time the trend should resume downwards. But that is the rally I would not want to be short during, from the standpoint of your SPY short.
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