Crystal Ball: -
my crystal ball hasn't worked real good since i used it for bowling, but here goes:
Futures are only - 1.30 now, asia down sharply, japan, australia - 1.5%, rest weaker, HK closed. all expected follow thru to friday ny
Europe will certainly sell off following NY.
expect NY to open down some but steady. think Monday will be an up day on close. Many stocks are selling at very attractive prices. Parallels to Friday/Monday 1987/1999 will be yacked, but things are never the same.
Think likely we will see 9200-9600 on the dow, but that's only a bit more from here. setting a base for strong year end rally.
interest rates will continue to tick up.
strategy:
avoid junk and knives
look for quality stocks at reasonable prices
take profits on some shares on moves up, hold good issues
take losses quickly
target 30-50% cash in trading accts
retain investment posture for long term investments
don't panic
don't get greedy
don't get stupid.
think internet stocks, particularly, aol, cmgi, yhoo strong positions right now
good luck all. larry |
