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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Jim Willie CB who wrote (39789)8/6/2001 12:34:10 AM
From: t2  Read Replies (2) of 65232
 
Louie Navellier thinks April4 was bottom

He is a bit of an oddball but he has been right.
I recall last fall that he thought the technology stocks would head lower; said there would be a run on the Janus stocks (nokia, cisco etc..).
He got that call right.
In addition, I recall that in January or February, he stated that the time to buy would be in the spring----he basically called the bottom on tech back then right on TV.

The only oddity is that he still did not buy a lot of techs during the April lows.

In the last 3 months of 2000 and first 3 of 2001, the holdings among the major funds have changed very significantly--they got out of tech in a big way.

That is basically my reason for being at the very least neutral on these stocks--and expecting a rally due to high Nasdaq short interest--decreasing volume is increasing the short ratio as well; skeptical traders; high levels of cash in money markets;

in addition, the possibility that Windows XP launch will increase activity in the semiconductor sector in advance of the November launch--that is, pick up in orders in September or late August--that news will be taken as very positive.

This market will rally even on a seasonal uptick; it wants to rally and is looking for any hope on the fundamentals.

jmho
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