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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Lee Walsh who wrote (91625)4/4/2000 10:14:00 PM
From: Jenna  Read Replies (1) of 120523
 
1) Did we see the bottom today and will we go up to the old highs from here
Nope

2) Will we go up a day or two and then take another dive and test today's lows.
Yes, until earnings come out it will be erratic. After the earnings are announced it will be another bout of profit taking. I think people change with every correction. They get smarter. Remember the internets and NTBK? Remember the frenzy of internet IPO's? You don't see that any longer. The tech stocks will not be held until they spike up and fall to the ground out of momentum and just tired. Traders and individual investors will watch their portfolios and might churn their stocks more often than before. Overbought stocks will be sold and profits taken. Positions flat or exchanged for newer and 'corrected stocks'.. that show signs of a trend change to the upside. Buying on Dips is as archane as 'buy and hold' .. When is the dip, a dip, or a bloodbath? If any has the formula for DIP please e-mail it to me. Is it a) 30% b) 40% c) 50% off the highs? maybe 56.233%?

The 'buy and hold' theory is dead and I think it should just be buried. There is propoganda out there that suggests daytraders are not making money. Well let me assure you, they are making very nice money. Investors shifting from Dow to Nasdaq and getting in on tops and panicking on sell offs and selling, they are not making money. I don't consider myself a daytrader and I didn't make 'a lot of money' during the correction but I didn't lose any and I made out fine, always a tidy profit in the end.

3) Will we gap up tomorrow, then tank and have another wild day like today and test the lows tomorrow??
Yes

4) Will we trade sideways for a while??
Yes

Now I'm going to watch The Red Violin and see you all tomorrow.
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