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Politics : Idea Of The Day
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To: jtech who wrote (39720)6/27/2001 11:18:30 PM
From: jtech  Read Replies (1) of 50167
 
Iqbal,as you know Im bearish but am confining myself to short mutual funds urpix ( up over 10% since the middle of may).
Look at a ten year chart of the dow and anyone can see were still in a parobolic state.
The short term is very confusing;
# the fed cuts rates again
# oil prices are coming down and iraq wants to destroy opec?(these middle eastern types want to destroy someone for thier religion)
this could mean even lower prices for oil as opec cuts output as iraq floods the market?
# Bush and Cheney get rear ended by Democrats that claim they solved the energy crisis evidenced by lower energy cost and rebates to California consumers?
# tax rebates beginning in july.
My shorterm outlook and im not charging you anything:
We will see the highs around 11500 and then descend into the abyass.
the support levels will be 9k, 8k,6.5k,5k and finally a 4k bottom.
I base my opinion on my own experience in japan and its not a short term deal.
Lots of good trading as long as you know the direction is down.
Iqbal, my deepest respects to you and your family.Tell your son I watch rmbs daily to cheer him on.
When will I be a bull?
When GE and MSFT dividends are 3% premium over prime. Who is the fool?
I suppose short term I am, but a few years from now I might be a guru.
You Guys my main goal is to preserve capital.I dont care if the dow hits 12.5 the fact is were headed down just play that way.
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