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Pastimes : Home on the range where the buffalo roam
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To: DOUG H who wrote (5867)10/9/2000 8:43:06 PM
From: Boplicity  Read Replies (2) of 13572
 
The below sums up how I view the current situation. I didn't start buying in earnest in the spring till I saw a reason to buy, the double bottom was it along with the fact that there was still a lot of promise left over from the first wave of the net build-out. This time I don't see that kind of recovery, it's going to take longer. So bases will have to be made.

<<It’s hard to get too excited these days about a Nasdaq reversal, regardless of the trading volume. Since Sept. 1, the index has opened sharply lower four times before dramatic rallies came to its rescue. None of these turnarounds delivered more than a two-day respite from the selling.

They do offer compelling evidence of why you should let a market prove itself. No major advance begins without a strong, confirming session a week or so into the new rally.

Even if the stock market should rally with apparent conviction, you don’t have to rush back in. The safest way to re-enter a market is to buy institutional-quality stocks as they burst from bullish price bases. If they don’t break out, you don’t buy.

You won’t find a lot of candidates right now. Their absence would act like a natural speed bump, restraining your buying if the market embarks on another short-lived rally.>>

for the rest go here--> investors.com

Greg
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