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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (125553)10/9/2000 4:11:03 PM
From: Rob S.  Read Replies (1) of 1577617
 
Buy the lows, sell the highs ... intra-day swings of 10%-15%.

I made about 20 trades today and all but two were long. Mostly for gains averaging 5%-10%. As has been the trend, some semis and semi equipment stocks look "cheap" or extremely oversold. But the momentum trend is still to the downside. Buying is coming in when good stocks are clipped severely or when good news comes out but otherwise the mood of the market is not decisive. I would not put too much into the rebound in the NAZ we have seen today. It may be meaningful or just turn out to be a rest before continued declines. It is a Jewish holiday and many institutional fund managers are out of the action. They could come back in to enforce the reversal rally or to take profits. Follow the tape.

IMO, trading is about the only way to make money in this market - or at least keep from getting damaged. I think it is too late to short many stocks, although there are still short candidates out there. I think we are near the bottom on a general trend basis but then who knows? Valuations are still historically high only many tech stocks if you discount future earnings by 30%-50% as may be necessary worst case. But that doesn't mean much of anything for a day trade.
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