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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 665.67-0.9%Nov 17 4:00 PM EST
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To: t2 who wrote (75224)4/17/2001 10:25:22 PM
From: American Spirit  Read Replies (2) of 99985
 
You're right, opposite of a year ago today.
In one year we've come full circle. Now we don't have a recovery yet but forward-looking people know there's light at the end of this tunnel and when we all see it at once they want to be holding stocks long. Still plenty of bargains and I'd get in before everyone else does all at once. We will hit speed-bumps along the way and that's good and healthy but the overall direction turned two weeks ago after the LU Big Lie, shorts exposed themselves as too greedy and a lot of techs hit all-time lows, the peak of negativity and in many cases dishonest negativity.

We don't even need rate cuts anymore but they're coming anyway. That will give this rally a second leg up in coming weeks. I'm holding a full boat of long positions and may even buy more tomorrow on margin. Shorts say I'm going to be in trouble but they are the ones who won't sleep this week. I'm confident about the long side now and don't feel the need for stops, puts or any other hedges than just good common sense about what stocks are most undervalued. Like I've said before, we could get an average of 25% out of this tech rally to fed Cut Day. All IMHO of course and I could be wrong, but I'm putting my money where my mouth is and I know I'm not alone. In fact the smarter shorts are also starting to go long now. Should be sweet. Bulls have waited a long time.
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