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Strategies & Market Trends : Classic TA Workplace

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To: JRI who wrote (8890)	8/3/2001 10:24:48 AM
From: marginmike	Read Replies (1) of 209892

Nothing in life is for sure except death and taxes. However it seems my first inclination for a 2-4 week rally is probably right. I think selloff waits till OCT-DEC when its apparent things have gotten no better and rates are not going lower. It seems what the market hates the most is anything in the middle. if numbers are terrible they buy on rate drops, if the numbers are great they mean economic recovery. When they are in the middle it means neither and with stocks at lofty valuations you need either PE expansion due to rate cuts and discount to bonds or you need earnings rebirth do to economic recovery. When your stuck in the middle you have neither. My belief is that just as IT is stedying itself the consumer will exaust and we will have cleanout in the Home builders, HD, WM and others of the world. In actuality I think certain small cap and fairly valued Tech will outperform the market now.

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