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Strategies & Market Trends : Rande Is . . . HOME

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To: carepedeum2000 who wrote (54743)	8/30/2001 6:59:26 PM
From: Rande Is	Read Replies (6) of 57584

Nobody likes leaving money on table that long, especially after such a run as bears have had. So I am leaning toward a short-covering rally late tomorrow as well. But only those who have been playing the swings all along should continue playing swings. The moves in either direction could get wild. I am officially still on the side. Looking to see if this turns out to be a re-test and another bottom is put in from where we may begin to re-build. . .or if this is a false bottom and we retest again in October . . . or if we pierce through and make a new low, which would then be cause enough for the economy to take another downturn. . . and the spiral continues. Either scenario will be quite interesting. I'm seeing Short-sellers celebrating . . . thinking that if they can get the Nasdaq to break below the April 4 low, they can reap the rewards of their efforts. This is folly. . . . and about as near-sighted a manner of thinking as there gets. If we continue to break down and bears begin to rally on the backs of failing companies [ala Nikkei] , we are setting ourselves up for what could be many years of recession. . . or worse. So those could end up being very expensive near-term gains. We need recovery. Not we bulls. Not we investors at large. We Americans. We need the markets to recover, so that the economy is not further damaged. We need the economy to recover so that consumer confidence is not further eroded. An avalanche can begin with the smallest vibration. There is an old Wall Street saying dating back a hundred years. . . . "nobody makes money in a bear market". I hope those who are "shorting at will" understand this simple principal. Rande Is [reprint from Insighters.com "Rande Is . . . HOME" General Discussion:The Market]

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