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Strategies & Market Trends : The Thread
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To: Frederick Langford who wrote (25546)12/19/2000 9:54:25 PM
From: stan s.  Read Replies (2) of 49816
 
Short term, the selling is clearly overdone Fred, I agree. Medium term, we still have issues. Times are different, we can't go back anytime soon.

Damage is abundant and will have to be dealt with. I see more downside at least through the end of first quarter (it may peak at that time, the damage I mean). It'll take that long for a different mind set to take hold...to set new parameters and change expectations.

I have not even looked at the chart after the close today but I will tonight. As for tomorrow and this week. It wouldn't surprise me to see a rally. After all there is some assurance from the fed.

That's not what I want to see though. The best thing would be a blistering black Wednesday of enormous downside that rattles our teeth on monumental volume. Total absolute capitulation...and then a rally to start late in the day. That would be the only way to get it done quickly...even then the issues will still take time to sort out.

But that probably won't happen here, so I still believe the only viable play is to sell the rallies and then go short if one is so inclined.

But it's unlikely the carnage is over. As I said I have not looked that closely yet...but it would not surprise me to see the upper teens (1900 or so) on the naz over the next several weeks.

Good luck Fred and all, see everybody tomorrow.

Stan
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