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Strategies & Market Trends : Rande Is . . . HOME

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To: Rande Is who wrote (45941)	1/20/2001 1:15:45 PM
From: American Spirit	Read Replies (1) of 57584

Yes Rande, though I've missed the doubles on micro-caps, (except for ESHR which I still hold at a loss, and hopefully on SCNT soon buying at $3) every day except one I made a profit since Jan. 5 or so. Even when the indexes were down my undervalued oversold doggies showed life. Won't continue forever but we still have plenty of upside. Look at LU for instance. Good example because it's both a blue chip and a beaten down dog. It's now around 21 from 17 a few weeks ago. That is not much of a move. It had been at 70 and why shouldn't it get back to $29. That's not overvalued. That's just approaching fair value. The thing was in December the market completely wrote off all future brand name and asset value of these companies. Now that value is beginning to be priced in again, little by little. Maybe I'll sell LU in the high 20's but not until then. And as for micros, if SCNT for instance dropped from 133 to 2 and I bought it at 3 why should I sell at 3 1/2? Nice little gain but there's no reason that puppy can't get back to $8-9 short-term. That's not much of a recovery at all in fact. Traders however get scared and grab their gains, profiting often and even going short after a pop. Fine, but every one of those dips lately has been a good buying opportunity. So once people realize buying on dips is profitable again (as they already are) we should have plenty more fuel left in the bull tank here. Also do not fight the Fed. The Fed is our friend now. And the earnings picture didn't turn out to be quite as bleak as many expected. We can also certainly expect earnings to improve going forward. I believe I'm in this for at least another 2-3 weeks. The market was just plain oversold, esp in techs, and now it's merely correcting.

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