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Strategies & Market Trends : Three Amigos Stock Thread

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To: Gary105 who wrote (20096)	7/30/2000 3:06:03 PM
From: Sergio H	Read Replies (1) of 29382

<Hello Sergio. If we are talking about a September timeframe then I think we will go through traditional summer correction in tech stocks and I think many will take out recent lows closing gaps that were created on Tuesday.> Excellent market call Gary, particularly since at the time of your prediction the techs seemed to be gaining strength. In my trading I attempted to take advantage of gaps in AFFX and IFCI. I covered on AFFX two days early, but shorted IFCI perfectly. Both of these gaps as well as several other chart gaps have been filled over the past week. Do we go to the top of the market's trading range or do you see a correction? My point of view is that the market has been going nowhere and will continue in a trading range while the inflation question continues to linger. I don't think the fed will increase interest rates in Aug. as the pinch from increased energy costs hasn't been factored in to our economy yet. A pass on rate increase in Oct. is likely also, so we're likely to see a market rally to new highs beginning in late Aug. and lasting till year end. Next year is another story. Sergio

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