Hi Barry,
Here is what Jack had to say last night, Monday, Jan.17.
Best regards, Jules
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All: Well, the Globex is not up all that much this
evening and the overseas markets look like they
are having profit taking at the moment. We shall
see what this all brings come tomorrow morning.
Personally, I am expecting the MMs to at least
start things up at the beginning and then bring
them back enough to get positions. But, I am going
to watch to see how they take things up and where
they bring the great majority of good tech stocks
back before I commit anything on the long side.
However, still - I expect things to be at least
positive for the best of the techs by the end of
the day, maybe especially those that have good
earnings prospects forthcoming like MSFT. We shall
see - just my opinion. In other words, once again
we are going to have one of those volatile days -
that I expect will happen from here on out now.
The time is coming that before this is all over, we
will not even worry about one plus billion days -
we will be having two billion plus days in the
Nasdaq at least. The swings will be enormous - with
100 and 200 point moves commonplace on a daily basis,
IMO.
As I said in my note last week, I believe that the
semiconductor stocks have retaken the leadership from
the internets and others for the time being. That does
not necessarily mean that the internets are through,
but I am not expecting them to do as well as they have
for a while - could be wrong about this, as always.
However, I will still continue to trade them on a higher
high basis, if given the opportunity - but once again
always only after the intraday pullbacks on such a thing.
And, should INTC or some of the big movers have a pullback
soon, I would not worry about it. They are entitled to it
after these big runups. I would not worry about the new
chip thing that is being publicised either. INTC has been
there before and they always find a way to overcome it.
So, in conclusion, continue trading those stocks that
are moving positively. It is kind of late for investors
to be adding to their positions at this point. There
will be less risky times to get positions at possibly
lower prices. For traders, it is a much better situation.
We are buy and sell people rather than buy and hold - so
not as crucial to always wait.
GoodTradingJack |
