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Strategies & Market Trends : Point and Figure Charting
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To: JDN who wrote (23799)9/25/1999 6:23:00 PM
From: Hardline  Read Replies (2) of 34822
 
After years of being in the market, the one thing I know is if the market wants to go down it will find any excuse to do so. Last year's Russian Scare was a farce. Russia is no better off today than last year and had no impact on the US but the market went down.

This year, Taiwan, weak dollar and Ballmer. Give me a break. Taiwan will be a small impact on a few companies. The dollar is not weak, the Yen is just getting a little stronger. The dollar is still stronger than every other currency. And Ballmer - last time I checked, he is not a financial analyst. I have met him before he is a flamer and throws out a lot of shock value and opinions on topics he does not know anything about.

Now don't get me wrong, I am respecting the indicators because logic does not always win out but there is a lot more good news on the horizon than bad.

The 2 main factors that should help the market are:
1: FOMC meeting 10/5 - It does not matter what happens, the markets will react positively. If they raise rates, that will be the 3rd one and the Fed does things in threes. So people will see it as the last increase. If they do not raise interest rates, we get a relief rally.

2. Earnings - September is confession month before earnings. So all the bad news comes out. In October, earnings come out and they will be great. Reason is that analysts have been sandbagging because of Y2K. Y2K is not having an impact on tech stock revenues so the tech stocks will lead us out of this correction.

Just waiting on the indicators to turn so I can jump in with both feet.

Hardline
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