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Strategies & Market Trends : Take the Money and Run

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To: Jorj X Mckie who wrote (13054)	8/5/2002 3:13:55 PM
From: Dave Gore	Read Replies (1) of 17639

Sure, good points. My comment was unfair. People who keep an open mind about shorting or going long have done much better overall. I just get tired of the bears (not you) who say the Naz is going to 600 (or 3000 by year end according to the bulls) or those who say the Dow is going to 4000 (or 11,000 by year end). The economy is not as well off as the bulls think and not as bad off as the bears think. Regarding the ODOD's, it's a concept that William O'Neill, really mastered. 1) Pick up stocks of fundamentally sound companies when they have dropped at least 60% from their 52 week highs, as long as they have no more than a quarter or two of weak results and/or there is a justifiable reason for it that is temporary) For me, the companies must be fundamentally performing decently, if not well. They must also be undervalued. I also try to buy during a panic sell or MM manipulation, but it is not necessarily a "Dead cat bounce" concept. I often buy stocks like ORB that had been drifting slowly down on dimishing volume and indifference or overblown fears. In this Market the main reason it has been working so well, is because traders are so skittish that they "Sell First and Ask Questions later." Selling can easily get overdone. The key are the fundamentals and then hopefully buying when the market is rallying. It also helps to buy the stock right near a key event (like a C.C. if you know management is good at them) or some good news like a buyback. Today is not a great day to go fishing obviously so I only bought EMBX. Like you say, whatever works. If people are losing money, their strategy ain't workin'.

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