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Strategies & Market Trends : Market Direction Predictions and BS guesses
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To: the Chief who wrote (35)5/17/2000 10:49:00 AM
From: The Osprey   of 234
 
Well Chief you sure are bearish.The sell in May and stay away scenario may fall true but it is this posters sense that the oil sector(which I am heavily weighted in) will rise.There will of course be the summer doldrums and further consolidation in the Tech sector as companies run out of money,but oils will help to take up the slack.
I think the Naz will continue to flip flop back and forth in a trading range between 3400 and 3950 possibly testing 4000 intraday at some point but not busting it.I err on the side of caution with Techs.Their stories have been told and there is not much more news to be had other than consolidation and new twists.
Oils, paper and forest products and yes even gold will be winners IMHO as we move back to a more defensive posture and await the next positive move forward.In Canada these sectors have been good defensive sectors over the years and some people will get tired of the volatility and move to these sectors causing a short term bull.Other sectors.....well we will see but for now I am watching oils and you know which one I really like.Hey they like me also as they used my namesake in their name and that is the only affiliation......LOL

Have a good day, week, month....summer.

The Osprey
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