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Strategies & Market Trends : Moguls Gold- A Thread That Thinks Like a Fund Manager
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To: SgtPepper who wrote (48)9/19/2000 11:40:06 PM
From: $Mogul  Read Replies (4) of 303
 
Hello Thread:

Well the Nas bounced, stated it would short term and it did late afternoon into the close. Volume could of been a lot more convincing but the bounce was solid through the end of the day, seemed like mostly short covering and some speculative bottom buying. Is this a bottom?..In my opinion NO WAY, and thus I am not convinced. Tomm. we may get some follow thtrough, but i don't see anything in the term of a breakout before earnings season. I would still be very cautious. I myself and not building any solid aggressive positions at this point except for daily trades and will trtade pretty hard tomm, as i think i can make some decent $. I noticed that Oil shot up after the close, and I am still investigating why. I beleive it has to do with a under production calculation error by someone. As we get into earnings season i expect more pickup, but I don't think or downside is complete quite yet at this stage.

By early next week we will take a closer look and will be in a better position. I may short some tops tomm, especially stocks that have had a weak quater, ad funds will dump there garbage and pile in the quaters winners.

Trade smart and don't reisk to much at this stage, would not be too smart in my opinion.
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