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Technology Stocks : SMTI: SMTEK International, Inc.
SMTI 20.90+2.6%Nov 26 3:59 PM EST
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To: Tigress who wrote (34)8/14/2001 10:22:19 PM
From: Bwe  Read Replies (2) of 420
 
Laszlo Birinyi makes some very important points in the August issue of his newsletter Reminiscences:

"Someplace in our academic careers we learned that the sign leading to Dante's Inferno read, 'abandon hope all yea that enter herein.' For some months that has been our view for individual investors. Or, as we like to put it, those who have a day job.
Unfortunately, there is no change in that outlook and unless you are a masochist or have tax gains you would like to offset, you should continue to be a spectator. Yes, you want to keep your positions and let them go long term, but we see little reason to play this market.
The key point is that investors should be aware is that the ills and woes of the stock market are not just a function of slow growth, oil prices, and lack of earnings. Therefore a pickup in the economy or another rate cut is the equivalent of 'take two aspirins and call me in the morning' or wishful thinking. This is, unfortunately, not your grandfather's market and we would rather pass up the opportunity to make money than to take the opportunity to lose money."

Steve asks a question a few posts back about some charts of financial issues suggesting some looming unseen trouble. It's been a very tough market to make money in.

If we end up in a trading range for many moons, however, (IYO) what would be the most reliable P&F indicator to trade the QQQ?

I'd like to see the NASDAQ Composite break the 200 DMA to the upside before getting long QQQ's.

Bruce
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