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Strategies & Market Trends : The Thread

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To: JeanD who wrote (48260)	5/24/2001 7:57:10 AM
From: Mike E.	Read Replies (1) of 49816

What I'm pondering here is how this market can rally more in the face of warnings season ... Wondering if others are thinking the same. Good point - I've been mostly following and heeding the advice of the resident GURU - Mr. Stan <g> wallstreetmonitor.com I am honestly surprised that the horrid SEMI book to bill ratio didn't cause a panic sell off yesterday. Still, it did cause the completion of an ugly Evening Star candlestick pattern on the composite and a close below support at 2255 - so I at least expect a short term pull back from here anyway. Longer term, I think it all depends on when people believe things will turn around. I think the market will go up through the last quarter of earnings warnings just like it was tanking during the last quarter of good earnings last year - forward looking market. Question is - when is the last Q of warnings? I'm also watching Dan Niles' opinion on the state of the semiconductor sector since he seems to have hit it correct for the last couple of years and he is still fairly bearish. Mike

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