SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Idea Of The Day
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: James Strauss who wrote (31063)4/6/2000 3:04:00 AM
From: IQBAL LATIF  Read Replies (2) of 50167
 
I think we can see a re test of that support around 3700-3800 level on NAZ, what happens when we get a spike down like this is that this same support does become a magnet that pulls the market down to itself, I also hasten to add that not only it can test but equally rebound as market has now taken off additional fat, these corrections and higher volatility makes this market a stable place, all that margined quick money is quickly evaporated in a spike like this. US asset inflation is concentrated on certain sectors and the market ability to clear it within four sessions is exceptional, unlike Japan US Banks are not exposed to equity fund lending neither exposed to 'real estate asset inflation', quick money making stocks came down to earth equally fast, that is osmething market does quite regularly, on dips like this if fat is cleaned out of the system, we establish the fact that market has all the ability to self correct and that internal market mechanisms are at work.

We have this correction to nearly 25% in NAZ but DOW hled it ground above 11000 on closing basis and look at it where the rot started in Japan the Bnaks the index is actually solidly up from 620ish level showing a read of 805 above a key support of 792..

I think we have now a setting up where within this range of 3700-3800 to 4200 we have a basing move for next three days the bias can be lower but with expected good earnings and only fewer companies pre-announcing bad quarters the market is now discounting much more and can move up on good earnings stocks like CSCO DELL even MRK look as if they want to go higher.

I will like to move a little 25% cash out of traditional sectors like brka and try to reestablish in BRCM ICGE...SBC MFNX for trade.. AOL looks good too and MSFT if it holds 82 in next few sessions will see a good move up.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News