Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 683.39

+0.5%

Nov 28 4:00 PM EST

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To: Walkingshadow who wrote (13772)	12/5/2000 11:39:43 AM
From: JRI	Read Replies (2) of 39683

WS- Well, I got blown out on my CIEN short....do you think this rally can break 3000? I knew we'd get a pop at some point, but thought it would come next week, pre-Fed meeting (i shouldve checked Greenspan's schedule)....I am torn here, because this doesn't seem to be the "real" rally from the bottom to me....good technicals, but we never had the real capitulation day that everyone is looking for..certainly a lot of shorts must have covered today... So I am torn if I should play additional upside over the next week or not...with all the possible earnings warning coming..it would seem tough to do.... Also, what I don't understand, although Greenspan said he is open to easing, he also said that this is not like 1998....back then, Greenspan cut rates 3 times....so 2 or 1 is the most we can hope for (it seems)...Wasn't 1 in January already priced into the equity market? Apparently not. Bond market has had it priced in for a while.. It sounded like me that he is saying neutral in Dec., cut in January (and that's likely it).....

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