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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: MetalTrader who wrote (94087)8/30/2001 11:46:24 AM
From: cnyndwllr  Read Replies (2) of 95453
 
MetalTrader, you chartists are killing me. It's the Readers Digest version of investing. Here I thought we were playing hearts and you were all playing bridge. The market goes down for good reason and then it must go down more, because after all, it went down. On days like today it takes a lot of restraint for me to refrain from trying to catch a bottom. The sunw news is based upon facts that should probably have already been factored into the market long ago and yet here we are dropping as if there were new and alarming news.

I also see this as a critical turning point, although obviously I am not using charts. In looking forward it seems to me that there will be an economic recovery. I suspect that there has not been so much damage done to individual investor's portfolios that they are not generally still ahead of where they would have been if they had been out of the market for the last few years and therefor I don't think most of them will be "market shy" at the lows. (They may well be "market shy" at the start of the next drop from the highs.)

In view of my disciplined approach (g) I am not trying to catch this bottom. If I see anything approaching a real panic selling frenzy or if I see some bottom feeding buying that looks like it has legs, I will probably lose all reason and buy with both hands. In the meantime, keep up the good work and lend your caution to those of us who are still optimists and who want very badly to once again swim against the tide. Ed
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