Market trying to turn back up - we'll see. If it does, I like CORV on upgrades, rumor of being bought out, etc.; ARBA, CORV, RBAK, MANH (but weird trader), GLW only because it is very low priced now. GLW is expected to make 1.41 for the FY ending 12/01, and 1.73 for 12/02.
Not buying much until we come out of doldrums around 1:30 - 2:00 most likely. Re-entered CORV at 20-3/4 and ARBA at 29-1/2. Tight stops, won't lose more than a few dollars if the Market drops.
Lane, I like the Market prospects too. It's all a revolving spin game. We never know how far the Market will look forward for a positive sign. If they look ahead to 2002 or even to the second half, the Market is real upbeat and rallies when it gets cheap. If it focuses on the short term earnings reality and it has rallied a bit, it tanks.
It all depends on how cheap the Market gets, when it drops down, the reward-risk gets better and people buy. Pretty simple formula for trading long or short, IMHO. |
