Dave Gore's Trades That Make Sense Message Board

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Strategies & Market Trends : Dave Gore's Trades That Make Sense

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To: Dave Gore who wrote (10667)	8/6/2002 11:44:19 AM
From: Dave Gore	Read Replies (1) of 16631

WHY MEDIA ARTICLES ARE MISLEADING --- If you read this yesterday and traded on it, you missed a big rally today and sold at the absolute worst time. You sold when REWARD/RISK ratios were the highest they've been in a while. Is the Media being used? Are they a great contrarian indicator at times? ** Optimism Falls on Wall Street** By LISA SINGHANIA 08/05/2002 23:21:00 EST NEW YORK (AP) - Just a week ago, Wall Street was flush with hope that the market had finally turned a corner. But that optimism is quickly fading, along with the 1,009 point rally in the Dow Jones industrials that investors had viewed as a signal of better things to come. The combination of three successive triple-digit selloffs on the Dow, as well as economic data suggesting that the economy is slowing, has many concerned that stocks have farther yet to fall. "It wouldn't surprise me if we retested the lows," said Larry Wachtel, a market analyst at Prudential Securities. "The question is if we're going to be able to bounce back or fall even more. The tone is certainly negative enough." Indeed, in the past three sessions - Thursday, Friday and Monday - the Dow has given up roughly two-thirds of the huge rally it had between July 24 and July 29, following its decline to 7,702.34 nearly two weeks ago." whole article: siliconinvestor.com

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