Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (9613)	9/2/2001 11:11:13 AM
From: Sergio H	Read Replies (1) of 13094

<This is the first recession I can remember where we've had relatively low unemployment... That's what's helped keep consumer confidence up so far... > I agree Jim. The employment numbers are the key right now. No question. There's a ton of money sitting on the sidelines waiting for an opportunity to re-enter the stock market. I am not comfortable with the majority of investors and traders sharing the opinion that the market bottom is imminent. The majority is hardly ever correct at the same time. The majority calling a market bottom would be a first. On another topic, same scenario on the euro vs dollar. Can the majority be correct? Interesting coverage in this weekend's Barrons on the large institutional bet currently long the euro. Sheeshkebash!!! I bet that the money source is the same guys who couldn't manage hedge funds and now have moved into currency trading. Can they be right this time? Me, I don't get it. It's not going to be easy for the bakery to make change in euro on a loaf of bread bought with lira. That's just an example of the frustration and problems that the euro faces. My bet is on the dollar. And finally, a good trade for this week might be UNFI. The stock is off 1/3 from its high, a neat Fibonacci retracement. Food stocks are doing very well. UNFI reports Thurs. morning. Sergio

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