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Strategies & Market Trends : Complacency Indexes
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To: TechTrader42 who started this subject4/1/2002 8:44:23 PM
From: TechTrader42   of 1487
 
I misspoke earlier today, or more accurately, some of you may have misunderstood my comments. What I intended to convey this morning was that the Nasdaq would end up and the Dow would end down. In fact, my prediction before the open today was that the Nasdaq would end up 17.27 and the Dow down 41.24. I'm sorry if this wasn't clear. It certainly should have been clear.

I'm now very bullish on absurdly overpriced tech stocks with uncertain earnings, and neutral on anything that might be reasonably priced, because the whole idea is to chase stocks on the run. Momentum is the concept, folks. But I reserve the right to be neutral on absurdly overpriced tech stocks with uncertain earnings and very bullish on anything that might be reasonably priced, if the market shifts direction tomorrow. After all, in TA, backpedaling is the name of the game.
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