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Strategies & Market Trends : Intraday Updates, Analysis & Strategies for Daytraders
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To: Christopher Loe who wrote (438)3/16/2001 2:50:42 PM
From: Dave Gore  Read Replies (1) of 589
 
Christopher I sold out of ARBA at 13+ the other day. It is a stock that some want to buy but until we get some positive comments by the company, it is going to get whipsawed around because investors are so nervous about any tech stocks. ADCT same deal...I sold out for a nice little profit a few days ago just b4 their C.C. I like them both long term myself but not holding anything here except GLW which I am going to slowly average into over the next 1-6 months.

I honestly do not know about any tech stocks right now. No one does. Did you see CA today?...down about 21 points on a warning. It still sounds like stocks have more to fall on any disappointments and believe me, there are lots of disappointments to come. I would only be encouraged if stocks started ignoring bad news. That is really the key because no Fed cuts of any magnitude are going to help much for a few more months.

I am sticking to my feeling that April 15th is the first symbolic date that may (I say "may") represent a time for me to nibble in tech. But it's only a guess. Things can change rapidly and with Europe now slowing down, it may be Summer before you can safely buy techs or even longer....and that's IF the market looks ahead six months for a real recovery.

No point candy-coating anything. It's real money we are talking about. I am preserving mine.
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