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 (10597)	2/20/2002 12:01:59 PM
From: Jibacoa	Read Replies (1) of 13094

<<1700 Nasdaq looks like a done deal for now... The end of the second Qtr should see the next important market move to the upside...>> JIM: It seems we may test the NAZ 1700 soon. What keeps me concerned besides the Japan situation and Enronitis possibly affecting other lasrge companies (besides IBM.<g>) is that there is too much conviction that "the recovery is on its way" and that in spite of the now rather prolonged "correction" we haven't seen a real "panic selling" as yet. The major banks seem already being affected by the increase in loans defaults. Most people giving opinions on the market, (a sample of which can be seen on the weekly "Market Watch" column on Barron's) feel that we already reached a bottom in January.Others not convinced of having hit bottom yet, think it will come in a few weeks with technology leading the up-charge, not the DOW.<g> If you take a peek at Barron's "Technology Barometer" this week, you don't find any of those charts on an Up-trend as yet.<g>( MSFT at 60, INTC at 32, IBM at 103, CSCO at 17, ORCL at 14, DELL at 25, TXN at 32, HWP at 20, SUNW at 9, EMC at 14) At present, I feel that it is better to stay on the sidelines and wait for a clearer picture ahead. RAGL Bernard

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