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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Voltaire who wrote (20814)11/29/2000 7:17:04 PM
From: Jim Willie CB  Read Replies (1) of 65232
 
we are witnessing end of correction after five year bull run

it could last for days, or weeks, or a couple months

this second downleg since LaborDay is a climax selloff
for God's sake, Fidelity sold a few $billion worth of techs
all by themselves
this is an historic selloff
we will point to it for years
the magnitude is close to 50% since March highs
back when we heard "techs are immune from higher interest rates"

expecting steady choppy times ahead
with abbreviated rallies
multiple retests

turning upward requires extensive psychological healing
Fed reversal is key
year end jollies is only temporary and fleeting
leadership from a specific sector is of paramount importance
e.g. semiconductors or fiberoptic or communications

I am an absolute mess, difficulty eating but not sleeping
gonna take time to shed this "pathological bullish behavior"
/ jim
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