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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 694.04

+0.7%

Jan 9 4:00 PM EST

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To: double-plus-good who wrote (50802)	5/15/2000 5:46:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

i doubt you will see them at that level, but who knows... let me put it this way, i believe that last year's lows in the PoG were the capitulation lows that won't be visited again anytime soon. were those lows to be broken i'd have to rethink my stance. in the meantime, as with every contrarian bet, you have to live with the possibility of being early. was it a mistake to buy MO at 20 bucks? it went to 18 3/4 a week later... it seems to me that the sector (PM's) is so washed out that the risk/reward ratio is a reasonably good one. not to mention that once a gold rush happens, these stocks can move rapidly higher. in short, it doesn't matter if it's dead money for a few weeks, or even months, just as long as they double and triple once they get going....

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