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Politics : High Tolerance Plasticity

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To: chowder who wrote (18827)	2/8/2003 10:47:57 AM
From: chowder	Read Replies (1) of 23153

The condition of the market .... Everywhere we look, the markets are down. Indices, industries, you name it. Nearly every market and sector is oversold and looking to fall further. Even the XNG is oversold and looks to be headed lower, and in the face of what most would consider excellent fundamentals. The XOI is close to oversold and the OSX, which has been the only sector on the rise, is now falling from an overbought range. stockcharts.com\|B\|K14 stockcharts.com\|B\|K14 As we come closer to war in Iraq, the odds of a terrorist attack here in this country increases. How many people want to have money in the market while the market closes down again? I don't know that a terrorist attack will come, and I don't know that the markets will shut down again, but what I do know is that the fear of it happening is real. A lot of money is going to sit out of the market over the next few weeks until the geo-political situation presents a clearer picture. It's going to be very hard for the market to sustain a rally with the threat of war hanging over our heads. On a risk to reward basis, is investing in the markets at this time really the prudent thing to do? Would sitting on the sidelines for 4-6 weeks really be the end of the world? With the tide clearly showing everything heading down, as noted in the charts above, do we truly believe we are strong enough to swim against these currents? I know I'm not. What I do know is that those charts above will provide the first clues for when I should start taking long positions. The market can't rally without those charts taking notice. dabum

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