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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 674.96+0.9%Nov 25 4:00 PM EST
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To: Johnny Canuck who wrote (28045)9/8/2000 12:10:50 PM
From: Return to Sender  Read Replies (2) of 68294
 
I also agree with you on a short term basis. I just think the selling now is irrational, overdone, and not at all confined to those companies that are unprofitable with need for additional cheap capital. I am trying to look beyond the weakness of the day to find what not only appears to be silver, but actually gold linings in this sector.

As for the market? Remember I did say I did not expect a real rally in this market until after the election and perhaps not until January. In the event that I am correct in that assumption then we could easily test 3700 on the Nasdaq again because having the FED state that there is no need to raise interest rates at this time is not the same as saying we need to lower rates to stimulate growth.

It is going to take patience to make money in the Telecom Sector but I prefer buying oversold stocks before everyone else starts singing the praises of a stock or sector.

You will not finding me pounding the threads, stating the obvious when these stocks return to favor, and we both know they will or you would not have bought CMTN in the first place. When these stocks return to favor and P/E's are at traditional highs then it will be time to take profits and look for other oversold opportunities in other sectors. As for the short term the sector and the market is at further risk and cash is a nice place to be while we wait because neither long position nor short ones are paying off very handsomely in my opinion. I hope this changes soon.

RTS
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