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Strategies & Market Trends : LastShadow's Position Trading
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To: Susan Saline who wrote (32954)3/22/2000 8:34:00 PM
From: Kelvin Taylor  Read Replies (1) of 43080
 
My take on what to expect over the short term:

I expect that investors/traders will continue to be in a generally good mood over the next few weeks. The market has weathered the first two Fed interest rate increases relatively unscathed and face the pleasant prospect of quarter-ending window dressing and further tax refund investment. No market-moving economic reports for a while. And the next Fed meeting is two months off. Of course, market indexes may need to pause for modest periods of consolidation and there is bound to get some negative earnings pre-announcements.

Generally, however, it looks like smoother sailing going forward. Perhaps the most significant thing to bear in mind is that we cannot become complacent. This is not a market that is likely to serve up too many free lunches. Stock-picking will remain the name of the game.

I agree with Sue that there are bargains in the biotechs and with a variety of techies that have been hit lately. Increased liquidity will drive the best sectors mainly on NAZ. Pre-earnings runup will provide some good swing trades. Watch for any profit taking, especially during the weak part of market session, as entry points. News on selected companies will provide good momo plays.

Ok folks, let's look hard of nice trading opps!

Kelvin
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