VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Venkie who wrote (35495)	4/8/2001 2:51:06 PM
From: patron_anejo_por_favor	Read Replies (2) of 65232

Hi Venkie, how's it going... Never a bad idea to "take a break" when the noise gets in the way, or the trades aren't working. I think you've got time to pick and choose for a while (probably 6 months or so). Some tech stuff is close to a bottom, in price if not in time. Good idea to reduce the debt some and have some dry powder. I'll think we're near a bottom when I see three things happen: 1) A rally that produces an "O'Neill follow-through day" in all of the 3 major indices. No bull has started without it in the past 50 years 2) Good bases put in on stocks in the groups I want to be holding through the next bull (ie, tech). 3) Sectors other than defensive issues showing top relative strength (right now the number 1 sector per IBD is tobacco, not a good sign for now). We get those 3 conditions met, and I'll start looking at big cap techs with good balance sheets and lots of cash on hand, who'll survive the downturn, take over their weaker competitors, and be around to run the table when the next bull gets going..... Get that Harley runnin' and take a spin around Lake Travis for me! Regards Patron

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