SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Sharck Soup
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Sharck who wrote (27996)6/15/2001 1:45:53 AM
From: American Spirit  Read Replies (1) of 37746
 
This market keeps surprising us, doing the opposite of what it seems it is about to do. Remember the rally mid-day Tuesday? Stellar move. Suckered me in on the next dip. And all today's news except the GE merger fall-through and Bush being protested in Europe was known. Nothing's changed. No one expects any good quarters out of techs right now, nor even next quarter. Maybe by the 4th as rate cut impetus starts giving things a rise. But look at today's prices on many tech stocks. Some just took a 25% hit in 24 hours. We're back around 2050 which has been a pretty strong support level. Pretty climactic selling today considering where we are. At the bottom of the new range?

I guess what I'm saying is I wouldn't be suprrized if we get mass covering and bargain-hunting tomorrow. If I hadn't blown it and bought yesterday I'd be a major buyer tomorrow morning hoping for bargain basement prices on my favorite techs and a nice 20% pop. NOK at 22 excellent. EMC at 28 tasty. PALM at 5.5 probably the bottom. I could go on and on.

I know one thing, doing the opposite of what the market's doing lately has been profitable. My only problem was I missed it by a day so now my goal is to recoup not profit. But those who bought EOD today or maybe tomorrow morning should do nicely very soon. Remember also, very little inflation and weakening economy means more rate cuts and one is coming up in two weeks. So there is a silver lining to all this. We just couldn't see it today.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News