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Strategies & Market Trends : Waiting for the big Kahuna
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To: pater tenebrarum who wrote (46207)3/7/2000 2:08:00 PM
From: Lee Lichterman III  Read Replies (1) of 94695
 
Well I am guilty as charged though I haven't actually pulled the trigger yet. None of us wnt to believe this can get as ugly as we down deep know it can and should. To be honest, only the high premiums are keeping me from buying leaps here along with the lousy chart formations being formed. Another day like this and we will have 3 black crows near what most would think is a bottom. On the other hand, I see the NASDAQ clawing to hold in positive territory and all I can do is shake my head in disbelief.

This leads me to my next question. I think we all agree that the spinsters would like to get teh NASDAQ to close over 5K. What would be the concensus here as to their chances in the next week or two? We have a possible tweezer top on the NDX, and large black cnadle onteh NASDAQ itself and the horrible DOW stocks that are making a new annual low as I type. On the other hand, it is an election year and we all know that the big money can play this thing like a fiddle. It appears pretty obvious so far that mass distribution is going on but if I am tempted to dip, what are the odds they can get teh perma bull dipsters to save this and rally it so teh big money can dump at higher prices?

Good luck,

Lee
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