WR's Momentum Trades Message Board

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Strategies & Market Trends : WR's Momentum Trades

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To: Trumptown who wrote (9409)	2/22/2001 8:34:27 AM
From: ChrisJP	Read Replies (1) of 11130

Hi Stingray, I feel like we are nearing what passes for a short term capitulation here, too. What I mean by that is buyers are waiting to see just how desperate sellers are and they are getting very close to scooping up bargains when the feel the recent selling has run its course. They will be competing with short covering, so there might be an chance of a quick and profitable rebound. The big question is: a rebound from what level ? The other reason I feel we are at a temporary bottom is the free fall in stocks that have met their numbers and have reasonable prices compared to their growth rates. When I look at the selling in MTON and OTWO over the last week, it looks like people were selling because the have to not because they want to. Maybe mutual fund redemptions are the cause. Some of the volume spikes and the lack of concern for sale price leads me to think some of the selling was mutual fund positions. I'm still thinking we will head lower again after the next rally. I think we will be much nearer the bottom 2 1/2 to 3 months from now when everyone admits that their earnings for all of 2001 are gonna suck. Maybe then all the bad news will be priced in. We shall see. Regards, Chris

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