Win Lose or Draw : Be A Steve, Make A Call Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Win Lose or Draw : Be A Steve, Make A Call

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Softechie who wrote (2191)	2/13/2003 11:24:44 PM
From: t2	Read Replies (1) of 11447

"Fear of Missing a Rally" Why we won't get a rally as I see it. Read this: Fear of Missing a Rally By Aaron L. Task Senior Writer 02/13/2003 06:30 PM EST Click here for more stories by Aaron L. Task A common refrain among investors these days -- especially retail types -- is that there's no reason to buy shares, given the geopolitical and fundamental backdrop. But on Wall Street, the majority of participants have seemingly been waiting for "everybody else" to throw in the towel so they can pounce and buy. Certainly few have sworn off stocks, and there were few signs of panic at Thursday's intraday lows. "Every trader in the country is either covering shorts, beginning to get long, or doing nothing, waiting for something to happen so they can buy," observed one market participant. "Even [RealMoney columnist and ultra-bear Bill] Fleckenstein's looking for a rally!" Given that, it's not so surprising the major averages finished well off their session lows, even though there were no glaringly positive developments on the geopolitical front Thursday afternoon or any evidence that Wall Street suddenly learned to stop worrying about war or terrorism. After trading as low as 7628.99 at about 2:30 p.m. EST, the Dow Jones Industrial Average rocketed higher to as high as 7781.89 in the final hour of trading before closing off 0.1% to 7749.87. Following similar patterns, the S&P 500 closed down 0.2% to 817.37 after trading as low as 806.29, and the Nasdaq Composite was off 0.1% to 1277.40 vs. its nadir of 1261.80.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next