VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who wrote (37772)	6/12/2001 9:26:54 PM
From: Sully-	Read Replies (2) of 65232

Dealer, Congrats on your capital gain! Beats being in the red. It's tough to leave $$ on the table, but tougher to see a small gain go red on you. Good job! Chris sees decending triangles, others see head & shoulder patterns setting up all over the place. equis.com From a TA perspective, they all generally resolve themselves to the down side. And generally lots of it too. Next week earnings warnings should begin to ramp up. The following week, they will be out in full force. I cannot justify increasing share prices when earnings are generally going to be in a significant decline for this quarter & perhaps for one or two more quarters to follow. P/E's are already at or above historically high levels. I just can't see over that to the next rainbow of hope for sustained growth. Japan & Europe are weakening economically. The US is reporting increasing joblessness, weak manufacturing output, excess capacity, excess supply in the pipeline still being worked off, falling consumer sentiment, yada, yada, yada. Have we hit the bottom of this economic decline yet? I do not think we properly tested the lows from April & the April lows did not have any real capitulation. There are still a ton of open gaps in many stocks & indices. Most gaps tend to get filled...... sooner or later. I think I will stick with Zeev Hed & keep my Bear suit on for the time being. I'd rather be late to the next Bull market than deep in the red waiting to unload when I break even. BWDIK? Ö¿Ö

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