Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: pater tenebrarum who wrote (36946)	11/13/2000 3:49:35 PM
From: chic_hearne	Read Replies (2) of 436258

I saw Tom Costello on CNBS a while ago talking about how the "technicians" had said that below 3000 the next level of support would be 2850 and we hit 2859. Possible bottom? In the self-fulfilling prophecy department, we still haven't had any capitulation. HWP just adds more fuel to the fire today that business is getting bad. To me, it still looks like things are priced for perfection (as opposed to ultra-perfection a while back). A day like today just shows how irrational this market has become and that we are no where near a bottom. A 200 point intraday move on the Naz should not be happening. In 2003 it may move that much in the whole year. People still want to be in tech and that's what allows these monster turn arounds. Tech needs to fall out of favor and that may take some time. By out of favor, I mean undervalued and we are a long ways from that. From the better to be lucky than smart department, I happened to sell back some poots at the open and now I'm buying back some of the same poots at half price.

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