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Strategies & Market Trends : Rande Is . . . HOME

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To: somple1 who wrote (47162)	2/10/2001 8:06:39 AM
From: DlphcOracl	Read Replies (3) of 57584

somple1: Several technically-oriented traders believe we may be reaching or ar at an "oversold" status on the NASDAQ short term and we might have a rebound next week. If so, look to unload tech stocks in the 2800-2900 range. Remember, these are trading range bounces and the overall outlook remains bearish over the next two quarters (March through September) for technology stocks. Companies are still giving negative forward guidance, increasing layoffs, and reporting "decreased visibility" of earnings going forward -- a euphemism for declining earnings or profit margins. If you track a select group of tech stocks carefully over a period of time, it may be possible to begin partial positions in a few. I nibbled at TXN, IDTI and PWER on Friday. If they rebound significantly over the next 1-2 weeks, I will (of course) take quick profits. If not, I am comfortable holding them at current levels. One final thought -- the Dow was down two consecutive days with the NASDAQ after failing to cross resistance at 11,000. If Dow shows sustained weakness ( if NASDAQ begins to drag the Dow with it), I will go 100% cash and sit out the summer in money market or T-Bills.

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