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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: ajtj99 who wrote (85469)6/25/2002 7:40:43 PM
From: t2  Read Replies (1) of 99280
 
this is not the time to buy long, IMO. This could be a catastrophic sell-off if panic sets in. I just was talking about the open, not what happens after that.

So you think we are looking at a massive sell off near term. Had thought that asset allocation changes might have helped this week.

You have to think someone knew this WCOM news well in advance of Faber (cnbc) finding out. That could be why the Naz dropped so much into the close.

Would you short a bounce off the open if you think going long is not a great idea...or would you think this is a stay in cash type of situation. Just trying to work on a game plan for tomorrow. Dollar is tanking and you can bet we will see lots of foreign outflows from stocks and maybe even bonds. That is the biggest difference I see between what is happening now in the markets versus late September 2001.
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