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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: JRI who wrote (40427)1/9/2001 11:55:16 AM
From: adcpres  Read Replies (2) of 42787
 
JRI: How much discounting was done on Nokia prior to today? I think too much attention was directed toward the FED as the fix(long term yes- for the present no) and the market has been ignoring the bad news out there this past week. Look, this thing is a casino pure and simple. This is legalized gambling. Some have "systems" called TA kind of like counting cards. All the old strategies are on hold for the near term until the market stabilizes. I just see volatility for reasons previously posted. Ignore it and you can trash your account. Buy and hold is fine but why do it if you are going to stay in front of a screen watching the market every day? Be ready to be BULLISH or BEARISH on any given day -- trade this thing. Don't let the hope that "the bottom is in" blind you. Too many out there have their head in the sand. Sorry if I am starting to sound cynical but we really haven't had a sustainable rally since August. Since then the NASDAQ has been channeling down with a channel width of about 600 points. So any mini-rally of that size or less is not significant in terms of reversing the trend. Look at the channel- we are still in it with no breakout in sight. Accept it, live with it, trade it. GH
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