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Strategies & Market Trends : Rande Is . . . HOME
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To: Rande Is who wrote (18138)1/6/2000 6:59:00 PM
From: American Spirit  Read Replies (1) of 57584
 
Tomorrow should be the end of the tech blow-off. Hopefully the economic numbers will be good or benign to temper the over-reaction. Following the Tuesday sell-off, investors haven't had time to get their confidence back. LU's warning caused a stampede out of that stock in the last minutes of trading. The same kind of over-reaction we saw in BEBE (to good earnings news actually), URBN, ANN. Though strangely Gateway went right back up.

I had figured no Y2K glitches would being new optimism to the markets but apparently the reverse has happened. Ironically I made money today though. Thanks to CORL mainly. Otherwise weird and frustrating today. But don't forget it's still the first week of January so weird contrary moves can be expected to happen.

Which brings me to another point. Why does CORL go up 6 points on speculation (do they have any earnings yet?)while LU goes down 25% on flat earnings?

One thing I know. Whatever irrationalities there are going on will soon be corrected. They always are eventually.

For those with cash, the telecom sector will probably tank tomorrow. Great time to buy it. Lu, Wcom, Q, T - bargain time.

By next week most of this BS will be forgotten and like Rande I expect we'll begin to rally. It's tomorrow I worry about. But thank God it's Friday. Hopefully the numbers will be OK and bargain-hunting will come to the rescue.

PS - Just a few months ago Lu announced 50% growth in earnings. What the hell happened there?
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