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Strategies & Market Trends : Rande Is . . . HOME

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To: Rande Is who wrote (30065)	7/19/2000 10:18:46 AM
From: Rande Is	Read Replies (4) of 57584

We totally expected this selloff. I hope everyone traded accordingly. I've made about a half dozen posts regarding the selloff that would occur near the end of earnings season. . . I predicted it would start today. . so it started yesterday. I also said I'd be selling into strength this entire week. . . which I have done. . . [as best I can while traveling]. . just wanting to make sure there are no misunderstandings. . . I predict we trade sideways with a downward bias until the end of August. I held a few stocks that have yet to report, in hopes we would have some fairly mixed days this week [broad selloff underneath narrow earnings rally]. . . however, now it appears that even those plays are spoiled. In other words, in the early part of this earnings season, those reporting better than expected earnings got a bump up on the news. . . .now that MSFT surprised and still sold off. . . I believe that the tides have turned. . . and that any further reporting would be biased to the downside. So I am selling off the remainder of earnings plays. . . we did just fine last week and the first part of this week. . . the odds are now stacked against us. . . unless there is a dramatic turnaround today. . . . . which I don't expect. IBM could blow away the street later today. . . but with the current lack of buoyancy, I believe that it will not be enough to turn the tides. Rande Is PS> Just after posting this, the Dow began an unexpected race northward. . . but I believe this is a "cocking of the gun" in order to continue driving down the Naz. . . as the Nasdaq is totally following the Dow's lead. . .but is unable to bounce as quickly. . . . so the Dow goes up and down and up and down all day long. . . while the Naz tracks the downward moves accurately, but barely tracks the upward moves.

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