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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Box-By-The-Riviera™ who wrote (141953)	1/7/2002 3:52:34 AM
From: sun-tzu	Read Replies (2) of 436258

one of my colleagues bought the week after 9/11 hand over fist and she's still holding. she is extremely bright and completely cognizant of the "full picture" including the ever present and most important, psychology metric. she has done this consistently and with success since 1998 (probably earlier but i did not know her back then). buy when dogs sell...something gut_trader and jane are familiar with i'm sure. the FED is still pumping, hedgefunds are running and gunning again and the shorts have not rolled over. if your a trader then the money is to be made from the long side. if you're looking for a swing and your trading with a short bias than better opportunities will present in the future imo. those who shorted 12/6 are now basically flat on their plays, meanwhile many stocks have had great ramps from which to capitalize. i saw people calling a naz head and shoulders, that morphed into the now "expected" double top. lol, when the naz breaks the 12/6 high what are they gonna say then? breadth is hugely positive and the nasdaq has broken its' long-term downtrend line. now some may find fault with this from a fundamental standpoint...a point that i agree with in principle...but the simple fact is that the fallen downtrend line will be defended VIGOROUSLY by big money. any breakdown of that trendline will take a long time to develop and at this point, earnings estimates are so low-balled that the market will continue to move up. look for biotech to perform this week the $BKX has broken out from congestion and now is challenging its' downtrend line drawn from the declining peaks beginning in january...a breach of that is nothing but bullish and will be treated like the current nasdaq long-term downtrend recently broken. big money will defend that line in the sand...i expect that to be broken sometime this week. $sox...broke its' long-term downtrend line. top of the range is 700. i'll wait for that # before i consider shorting chips for a hold. $xbd...major breakout. broke its' long-term downtrend line with vigor. as the brokerages go, so go the markets. trading profits are strong, M&A is humming...she led us down and now is leading us up. there is no technical parameter that suggests a shorting opportunity is upon us. fundamentally we still have major fed injections, readily beatable corporate profits, bad news factored in (perceived! not actual) and shorts that have not rolled over. what more can i say brother. the mania lives.

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