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Strategies & Market Trends : Rande Is . . . HOME
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To: Rande Is who wrote (46446)2/1/2001 12:45:50 PM
From: American Spirit  Read Replies (2) of 57584
 
My guess is that we're entering a period of minimal volatility. Everything that needed beating down has been beaten down. Earnings season is about over. Fed cuts will be oncoming but probably smaller. Most techs look fairly valued or undervalued sitting near their bases. Defensive buys will be popular but only those considered value buys. And buying on steep dips continues to pay. So I think position trading as opposed to day trading is the best way to go. Try to catch short-term bottoms then hold and wait for upward corrections. Don't expect anymore more panic nor irrational exhuberance. It's a value-pickers market now me-thinks. Remember expectations have come way down so going forward it won't be difficult for many troubled companies to beat or meet expecations. That's a positive from here. On the Naz I'd guess 2700-3200 range until further notice. So the next test is how and when we can get over 3000 then hold up there. Also much of the money in techs now is new money. So those buyers are looking for gains from here. In others words they're likely to hold. I sense a lot of support in techs at these levels. With some exceptions of course. Still like VZ as my blue chip - then SCNT, LOR, ESHR as my recovery dogs - then ADBE, LU and SUNW as my beaten down major tech picks. Almost all bought near their lows I might add. If I had to buy one stock it would be VZ, a combo of defensive and growth with nice growth in key areas at a 12 PE and some special news coming in the near future (their big IPO). Don't profit so often as before but definitely profit. gg
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