LastShadow's Position Trading Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : LastShadow's Position Trading

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: AlienTech who wrote (35380)	5/21/2000 10:59:00 PM
From: Jeff Jordan	Read Replies (1) of 43080

From Thur. evening: Ok, we closed below SPX 1440 so I would think we head to 1428 if we don't see a strong open in the morning and hold 1440. Since I can't think of any catalyst to make people buy tomorrow except options expiration, I'm looking for more of the same tomorrow> Therefore MSFT possible retest of recent low of 65. I wasn't around as you know Friday...I had arranged to get a few pager alerts but not as many as I had hoped, but it was very clear before I left the house the market was in for a bad day. The speed inwhich SPX 1428 was flushed would have sent me to the sidelines in a hurry had I been holding anything that wasn't already beaten to death. Anyway, it appears there was support for a second time at the 1408 level. To me this is a good sign. I'm not to sure how much options expiration had to do with these levels. I haven't had the time to look closely at what stocks were really moving the markets but I assume by the size of the declines it was fairly broad. fast.quote.com I'm sure there is a lot of fear in the market now and expectations are low. But, Even if we break current levels briefly it will be an opportunity for accumulation of quality stocks. I suppose a test of the April low is possible but am confident the bull market will continue atleast through the remainder of the year (meaning we end the year higher than today) I see no reason for a real bear market to exist with the current strong economy and business cycles. BUSINESS IS STRONG.....CONSUMERS HAVE MONEY The valuation correction is mostly finished and the Fed has achieved most of it's stated goals.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next