WR's Momentum Trades Message Board

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Strategies & Market Trends : WR's Momentum Trades

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To: Bernard Ng who wrote (9659)	3/23/2001 6:29:50 AM
From: ChrisJP	Read Replies (1) of 11130

Hi Bernard, Don't rule out the possibility of a tradeable rally sometime soon. I thought we were gonna have one leading up to the rate cut. Ummmm ... something tells me I was a little early. I get the feeling the smart money shorts have gotten out of this correction what they wanted: NASDAQ -1800; S&P 500 - 1100. Unlike longs, smart shorts know its not a good idea to stay at the party too long. BTW, the PE of the S&P is now 20:1. But don't be surprised if we rebound back to the 50 dMA something like 2200 - 2300. As you can see from the 2:45pm move yesterday, the rally can happen very fast. Of course, it can end fast too. siliconinvestor.com Of course, after that, it depends on upcoming earnings reports and so on. Good luck today, Chris

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