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Pastimes : All Clowns Must Be Destroyed
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To: pater tenebrarum who wrote (5003)1/28/2000 9:33:00 PM
From: Lucretius  Read Replies (3) of 42523
 
everybody has to read this.... LOL!! they don't have a CLUE!!!

Regardless, we're "setting up for a fantastic buying opportunity in equities," Heekin said, predicting a sharp "snapback rally" in the coming days.

"I just think we've gotten pretty oversold, the trader said. "You can't get frightened and let these intraday violations [of support levels] cause you to lose conviction about the market in general."

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"I love this market because it looks like Armageddon [and] this inverted yield curve and the bond market's reaction has everybody so spooked, so baffled," said Scott Bleier, chief investment strategist at Prime Charter. "The stock market is finally getting a little bit of a correction [and] we have a little more to go down."

Like many, Bleier said the correction in tech stocks is overdue but suggested it will set up "another buying opportunity" when the Comp reaches about 3750 and the Nasdaq 100 hits about 3200; he sees similar support for the Dow around 10,600.

"This volatile market with years' worth of gains coming in days is not over yet," he said. "At some point we need to consolidate these gains, and what gains we had. [But] it's not over until all the Baby Boomers start retiring."

thestreet.com
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