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Pastimes : Trading the markets.....
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To: GROUND ZERO™ who wrote (2122)12/19/2000 6:35:16 PM
From: Lee Lichterman III  Read Replies (1) of 4583
 
I agree. If it gets too ugly and we get some friendly economic data, he may cut between meetings so he doesn't look like he is trying to help out the new President at the January meeting. However if the employment data stays tight, energy doesn't drop and credit doesn't start getting better, then he may just wait. The NASDAQ is dropping hard but that is where most of the gambling took place over the last 2 years and looking at the DOW and SPX, it isn't really that bad. We are basically flat which is perfect for letting earnings have time to stabilize and PEs to contract some as the real winners are seperated from the chaff.

FWIW, I was looking for an up day too and had some QQQs that I had to jettison near the close when things started getting ugly. That trade was based on TA though and in no way was a FA or rational play. <ggg>

Good Luck,

Lee
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