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Strategies & Market Trends : Dave Gore's Trades That Make Sense
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To: Dave Gore who wrote (9804)7/23/2002 11:22:20 AM
From: Dave Gore  Read Replies (2) of 16631
 
CAPITULATION -------------- We may never get it.

Capitulation may not happen in the traditional sense because EVERYONE is expecting it. We may find that we will start to turn meaningful around near Aug. 14th (CEO's signoff deadline for earnings) or before if earnings keep coming out better than expected. Of course the worry is that CEO's and CFO's will then be low-balling numbers, at least at first.

OF course, it would be a temporary rally with backing and filling, but the bottom line is that we simply may never get an exhaustive bottom. The rally could just slowly sneak up on people. That said, I still would feel better about buying if we hit at least 1200 Naz and 7500 Dow and an S&P of at least 750. But with all the Dow stocks reporting good earnings we may not get it.
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