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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (24345)	8/17/2001 6:37:00 AM
From: Jerry Olson	Read Replies (1) of 30051

Hello Zeev i'm enjoying the thread... well i feel the exact opposite, while the NAZ broke a triple bottom on P&F below 1900, the DOW is holding up well, and so is the SPX and SP01U futures... the SOX has not broken yet...and may not...it will take all of the above to breakdown before we crater..i do not see this action happening near an FOMC.. the FED will cut .25 basis points and continue to be accomodative in their statement...earnings season is over basically...and while we look dead, i think the surprise will come to the upside trapping the shorts.. this will be a short pop after the FED into early Sept...while the markets trying to discount these valuations...i see no crash here...not yet... so i am waiting now for my third foray into the semiconductors long on this pullback..i want to buy 10 stocks for an expected bounce next week and beyond... while i do not predict/speculate, rather i will follow along any way they want to take me<g>... on P&F the OTC has been very weak for a long time vis a vis the NYSE... i want to see my expected re test of the lows yesterday to see if they hold..if they do i am going heavily long for a quick trip post FED... good to hear from you Zeev...btw...i have never seen the semis so dead biz wise...i mean no orders anywhere yet...amazing... jerry

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