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Strategies & Market Trends : Options
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To: Tom K. who wrote (7764)5/9/2000 11:35:00 AM
From: PAL  Read Replies (2) of 8096
 
Tom:

sitting out does not mean that one is not staying alert to grab opportunies presented in any market condition. Just watch predators and preys in the serengeti. the successful lion is the one patiently awaiting for the prey to come to it. in another scene you see a herd of wilderbes passing bye, and yet the lion could not even get a meal.


the point is that guessing a stock's bottom is a risky proposition.

the following is a from today's IBD:

Qlogic, one of the maket's former leaders, slid 24 13/16 to 75 1/8. The maker of high speed fast switches for data storage networks. Investors were not pleased with the 69% premium Qlogic offered for Anchor's shares.

Qlogic's drop also shows why trying to guess a stock's bottom is a risky proposition. The stock appeared to snap its downtrend April 27 when it jumped 18 1/8 to 91 1/2. That still left it 55% below its March 7 high.

But drawing a meaningful trend line is difficult over such a short period. Let a stock prove itself by building and breaking out a sound price base. You'll give up some points off the bottom but you'll gain a lot more confidence in the stock.

The fund managers are not putting money in the stock market right now, just witness the accumulation/distribution of the 30 stocks in dow jones. there is no "a" rating, and there are only three "e" ratings. they are in a status quo. Just imagine, the people with the smartest staff are taking a neutral stand.

Maybe there are good opportunities somewhere, but I think they are few and far between.

BTW, Qlogic drops another 14 points as of this writing.

Good Luck

Paul
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