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Politics : High Tolerance Plasticity
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To: Gottfried who wrote (15474)7/23/2002 5:55:45 PM
From: The Ox  Read Replies (1) of 23153
 
Unfortunately for the companies in the NASDAQ, I don't see a situation where the NASDAQ rises appreciably without the DJIA leveling off or turning up. I think there will be pockets of strength that can be traded, at least for those who are nimble and see the signs on time. The only positive factor in this whole mess is that when the bear is finally over, the NASDAQ will probably present a larger number of candidates for high % gains since it will continue to be dragged down by the DJIA.

My reaction is don't worry. The bears will get just as fat, if not fatter than the bulls got on the way up. They will be so convinced that the world is about to end that they won't be able to adapt when the turn hits.

For those looking to buy, and there should be VERY FEW of you out there, I say buy strength. Not expected strength or sector strength but real strength according to the charts. Buy on the way up and don't get fooled into buying the falling knives that are everywhere.

Let the market tell you where to go, don't try to guess or anticipate what the market is going to do. As a group, if there's one thing we've shared on this thread it's this very basic and simple principle. I always like to add that if you can't afford to lose the money, don't play the stock market! If you are starving, you don't gamble your lunch money!
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