TGL WHAAAAAAAT! Alerts, thoughts, discussion. Message Board

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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: ChrisJP who wrote (72690)	11/29/2000 8:02:37 PM
From: Tom Allinder	Read Replies (1) of 150070

FWIW, Gateway warned ... now trading under $21 .... was $50 two weeks ago. It appears to be pulling the entire market down in AH. CSCO trading below 50 again. Jeez. Tomorrow .... should be interesting ..... so to speak. Very interesting. Talked to some very discouraged people today. The NASDAQ will bottom soon. MY OPINION. 2400-2470 likely bottom. My own strategy is to remain mostly cash and load up on beaten down NASDAQ stocks when bottom occurs. Whats bottom? Well, we should see huge volume to the downside first and this could happen any time. This should be followed (and all this can happen within hours) by big volume on the downside and a one day move on NASDAQ of 8-12%... None of this will matter unless the Fed at least changes stance. Big signs now that economy is headed for the HARD LANDING. Any major market rally is sparked by solid evidence that the Fed will lower interest rates after a period of tightening. A few weeks after NASDAQ rally begins, I would think that the penny market should see a broadening rally. Now, every one would like to see a return of the penny bull market. But the NASDAQ must lead it. Some people think they are smart enough to find the one or two penny stocks that go up each day, but money is drying up in a hurry. Hopefully many of us will have the money to get back in when this finally turns up. I don't even bother looking for that one or two stocks that go up each day... unless you are first in and first out, your left holding the bag. I can make much easier money daytrading BRCM, SDLI, JDSU and the like... not a lot of money but enough to tide me over until I find a penny that goes from .05 to $5. MY OPINIONS.... Tom

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