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Technology Stocks : All About Sun Microsystems
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To: High-Tech East who wrote (32728)6/11/2000 5:30:00 AM
From: lee kramer  Read Replies (1) of 64865
 
KendallHarmon: Fine post. I highly respect Richard Russell. He's sometimes wrong, but I've found that he is scrupulously intellectually honest. That's the most I can ask for. I too believe that the DOW and NASDAQ have convincingly topped out and that we are in a primary "bear" or down market. This gives me my bias as someone who is a Trader. There will be rallies, sometimes quite sharp, as we've recently seen...and these rallies can can bought; but for me, my finger is always poised above the "sell" button if I'm long and see a trade that can be taken. And, because I feel the other "galosh" has yet to drop...there will be many stocks that will decline, and can be shorted. So...for me it continues to be "hit & run"...and smaller positions taken...and stop-orders to limit losses when wrong. The recent rally has some analysts and traders saying that we've hit bottom; I'd say that this is perhaps a 33% probability. If it turns out that we have seen a bottom, I'll (hopefully) change my thinking. And if we have seen a bottom, there will be time and profits on the long side. But I think it'll be a very long time before we see another market, especially NASDAQ, that we saw from 1996 until Feb. 2000. (Lee)
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