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Strategies & Market Trends : The New Economy and its Winners

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To: fedhead who wrote (13138)	7/26/2002 5:34:19 PM
From: techanalyst1	Read Replies (1) of 57684

I'd hate to see a rate cut. It would mean to me the fed is now worried the economy really is in trouble. Either that or they're doing it to prop up stocks. Doesn't do any good to lower rates if banks do not want to lend. Look back at previous trading. We just moved what it took longer than a MONTH to do for the dow in a day. We just need to be more patient with stocks. Why should we expect that they should move up more than they have? I see LOTS that are up 50% or more from their lows. It's just time to get realistic again. Sideways would repair psychology and build a strong base. Quick moves up are great but more likely to get sold into and it just makes for more jitteriness and less stability. 1000 on the dow? Seems a bit unrealistic to me... then again I know an elliot wave guy who was calling for a 400 point move down within months when the sp was close to 1200 back in March and he was right. If we were to see Dow 1000, surely the economy would be in major trouble. I am familiar with Robert Prechter's work and his comparison of the economic cycle/stock market performance in the 80's/90's compared with the previous bull market move are worth a read, but dow 1000? After seeing my house come down in the 80s and some of these tech stocks implode I won't deny it could happen, but I'll believe it when I see it. For now... it just looks like we're trying to form "a" bottom at least if not "the" bottom. I think as long as the financial stocks stabilize, we're fine. TA

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