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Strategies & Market Trends : Rande Is . . . HOME

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To: moufassa7 who wrote (50847)	4/22/2001 5:40:06 PM
From: DlphcOracl	Read Replies (1) of 57584

moufassa7: << I'll wait for a pullback to go long >> How much of the past two week's gains do you expect the NASDAQ to retrace before you begin buying long-term. Would a 50% retreat (1900-1930 NASDAQ ) bring you in LT or do you think we will retest the lows (1600-1700), forming a double-bottom? Or, do you see the next decline bringing us below the 1500-1600 level, as the most bearish pundits claim? FWIW, I think the next earnings warning season in June may by the stimulus for NASDAQ to retrace. The reports should still show considerable weakness and it will still be too soon for them to be affected by the January Fed rate cuts. The fear that the technology stock recovery may be further off than many had anticipated might precipitate the next NASDAQ decline. While this may also happen during earnings warning season for Q3 in September, that would put us 18 months out in the NASDAQ bear market -- I would think, by then, the bear would have run its course (unless we have a true global recession, which I do not foresee).

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