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Strategies & Market Trends : Sharck Soup

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To: Dante Sinferno who wrote (34734)	9/10/2001 12:44:40 AM
From: American Spirit	Read Replies (1) of 37746

He's right, plenty of sidelines cash but fear of being the first to try and pick the bottom. Longs have been punished lately, especially last week, rather severely in many cases. This means caution from the longs. And I think caution form the shorts too except a few zealous ones. The bottom may be in tomorrow and the spikes back and forth may be dramatic. Even though we could fall into a tougher times, stocks are also damn cheap (including the few with great earnings like SKX and gas-oil) and in many cases far less that a company's cash value (SCNT, etc.). I have no idea what the market will do tomorrow except that if we spike down we will also spike back up, tomorrow or the next day. It's a day-trader's market the next few days. Maybe starting short then switching long. Not for those with weak stomachs. What we may have is just a lower trading range for awhile. But I don't believe stock prices will fall far below rational levels. At least not for long. Shorts might want to cover at open in fact. Or as soon as one uptick appears.

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