LG, you are 100% correct: " sell ", & , " there are no perfect market indicators ".
I think today will be ugly because of
-higher than expected core CPI.
-talk " of lack of liquidity " .
-need to pay taxes for large capital gains in 1999;
some will wait till Mon, " to possibly get a higher
price". There won't be one and Mon may indeed turn into
Black Mon.
-high flying internets and other 800 PE stocks falling and
dragging averages down.
If all the above happens, then it will truly be difficult to call the bottom.
Perhaps we need to go back to the old maxim: If you want to
buy a stock, wait until it is dow; until it stays down;
for several days if not weeks.
For now, I remain 100% in cash. Wife's portfolio 100% in
Hi yield Bonds and annuities. Perhaps wife is correct;
( from time to time only, of course , <g> ),
TA
Message #46156 from LG at Apr 14 2000 8:56AM
kami: Well there are no perfect predictors of market direction NONE! We all give it our best shot. I prefer to give my read on direction and then give support/resistance points to watch for possible pauses, bounces or reversals. Most often I react real time to my indicators as those SRLs come into play as price action enters their range.
I am no hand holding guru, like you see on some of these stock threads. This thread is about helping all that contribute and lurk this thread to learn from the discussion but ultimately make up his or her own mind.
As far as being concise...I have been saying the markets were beginning to top out since the first of the year. I suggested folks begin to take profits and get defensive in the rallies in Jan for the NYA and Mar for the COMPX. I have stated several weeks ago I closed out my last few remaining long-term long positions and was preparing to go on vacation. I stated at that time that the in play rally of the indices of the two major exchanges were bear rallies with the possibility of marginal new highs for the NYA...that should have been a hint! I have repeatedly posted charts on this thread showing bearish formations showing trend lines to watch for a bearish break. Even when others including "I get paid for my stuff" gurus where expecting higher prices.
I also posted in the AM on March 24th, that I expect a top to be put in for the NYA and COMPX and that the NYA may make a marginal new high...but I expected a pullback to begin. I also in real time called for a drop in unison of both previously diverging indices (NYA & COMPX) on April 4th before the drop...that is pretty concise!
What I am not going to do is say...buy here...sell here...I would have to charge for that kind service...<g>
Regards,
LG
|
