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Strategies & Market Trends : Three Amigos Stock Thread
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To: OldHack who wrote (19593)4/15/2000 12:24:00 AM
From: Ken W  Read Replies (2) of 29382
 
OldHack:

Nice to see some old friends show up to lend solice and advise to the board. I know that Sergio, Cary and all of the other Amigos would agree with me in saying that the trading has been fun and profitable for a good while, but now is the time that the real world of "investing" sets in.

As to the present state of the NASD. Interesting chart formation here:

207.61.23.98

On first glance the thing is a nightmare, however, I see something here that interests me very much. First notice the gap above the 200dMA that was left. For some reason the market leaves these gaps and they appear to always be filled. Second is the oversold condition of the STOCH's. This would indicate to me that the gap will be filled, thus moving the market back over the 200dMA. Now, to my mind, if that gap is filled on heavy volume then the over reaction sell off will be invalid. I know, there are gaps down around 2900 too, but with the present oversold condition I would not expect this at all. Someday maybe, but not just yet.

Personally, I'm holding what I have in the large caps and getting out of the spec. stocks as close to even as possible. LOL

Just as a matter of perspective: I can remember when the DOW was at 800. I was in high school, but can still remember the moaning on the part of adults around me about the "blood bath" that had happend as the DOW had lost 20%.
Ken
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