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Gold/Mining/Energy : Position Trading in Canada
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To: Ward Nicholson who wrote (1775)6/19/2001 12:13:29 AM
From: Davy Crockett  Read Replies (1) of 2259
 
Hi Ward,

Just a little bit late <great post BTW>
Peter
Message #1775 from Ward Nicholson at Oct 30, 1999 4:05 PM

fuddle:
You and I seem to be two of the few bears remaining.

I still feel very uneasy about this market for a variety
of reasons and am maintaining a bearish outlook on the
U.S., and hence, Canadian markets.

1. Only a handful of stocks are driving these markets.
The breadth still sucks.

2. Swift rallies such as what we had this past week are
characteristic of bear markets.

3. Although it seems we've escaped the 1987 scenario, I
still can't help but notice the technical similarities to
the '73/'74 bear (which I think presents us with a worse
outlook than '87).

I'm not about to fight the tape during this relief rally,
but I remain happily on the sidelines with 100% cash at the
end of the day, choosing only to daytrade.

WN
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