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Strategies & Market Trends : Intraday Updates, Analysis & Strategies for Daytraders

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To: Jenna who wrote (202)	3/14/2001 9:09:24 AM
From: Dave Gore	Read Replies (2) of 589

Futures tank overnight on Japanese banking concerns, very weak opening today. Pre-Market is ugly. This rather unexpected news is just another reminder of why so many" bank their profits" at day's end and, like me, go "flat" at the end of the day. Believe me, I want to "swing trade" and be able to hold a few stocks longer term, but it just makes no sense yet. It's almost like the timing of these negative events are almost pre-planned to frustrate any relief rallies. Remember the positive CIEN report about a month ago when we got a furious rally in techs, only to have NT warn afterhours and tank the Market a few hours later? One Market guru on CNBC just now, said that if the Markets overreact today and tomorrow, Alan Greenspan might do a rate cut right now. Another said our Markets looks like we are panicking on the Japan news and it represents a buying opp. I am sure there are some who are legitimately worried. Who to believe. Cash is King! Use your head...be calm.

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