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Strategies & Market Trends : Rande Is . . . HOME
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To: Softechie who wrote (45448)1/12/2001 3:39:51 PM
From: American Spirit  Read Replies (3) of 57584
 
Softie, you remind me of myself going long last January.
I had a long winning streak going and thought I was a genius going against the Fed and changing prevailing tides.
Then I proceeded to give back my $130,000 in winnings. Now I am down $20,000 since then. Okay maybe you're not as stupid as I was but - we do learn the hard way sometimes.

A few days ago you were calling for Naz 2000 now it's 2600. As for testing new lows I wish so I could load up cheap but that is simply not going to happen IMHO. Down to 2450 or something maybe. Take SUNW at 30 now. That may be a great bargain. Its trading range may be 28-45. So that gives you 5-10% downside and 40-50% upside. Or look at LOR. Up nicely from 3 1/2 to 5 lately but a broker just gave it a new price target of $9 today. That means the trading range is roughly 4-8. Again far more upside than downside and the dip is merely a buying opportunity. Also any big dip will be short-lived. Bargain-hunters are everywhere now. The Fed will lower again by .50 in two weeks and we'll be up another notch. Also the warnings and disappointments will all be behind us. In other words tech shorts might have 1-2 more chances to get out without a huge loss and that's about it IMHO. From here on it's mostly up with a few pullbacks.
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