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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 690.40-0.5%Jan 14 4:00 PM EST

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To: shasta23 who wrote (31254)3/18/2001 9:10:48 PM
From: j g cordes  Read Replies (2) of 69762
 
Stephan, IQBAL and I know each other from long ago in many discussions.. glad to see he's bullish as I am.

As for the person posting the "scary" chart of the Dow, I posted him twice on the uselessness of any chart that has no content other than its numbers. Statistics and charts in particular can be skewed and scaled to show whatever one wants to show. My last post to him was a collection of charts done the way they should be done if one is taking a negative stance.

My own perspective for the record, is that with the acceleration of money and information one should expect to see greater volatility in all markets, especially those that attract the attention of the consumer investing population. When a market gets consumer attention it attracts all the riff-raff of wall street and Madison avenue. God forbid the bond markets ever attract internet day trading, CNBC coverage and talking heads all day.. it would become the same roller coaster.

I think when the dust settles, investors will sober to the fact that technology still drives growth and is the most constant and enduring field of dreams for investor riches. At that point, bonds will seem slow and ponderous, retail will seem dated, gold will lose its luster, and greed will take its course.

There will always be small hot niches of technology stocks that give companies a competitive edge in any market or economic environment.. currently I'm thinking its in the last mile wireless area, some chip makers, some bio.. nothing stands still or goes down without creating a vacuum of opportunity.

Jim
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