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Strategies & Market Trends : Z Best Place to Talk Stocks
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To: Larry S. who wrote (47263)3/24/2003 9:23:12 AM
From: DanZ  Read Replies (1) of 53068
 
Big test for the market today and early this week. The futures are down about 20 points this morning. Opinions are like aholes but I have one anyway. lol The market declined more than was justified by fundamentals because of the Geopolitical issues. Some of the irrational losses have been regained, but whether or not stocks are at least fairly valued now instead of undervalued is up to debate. I believe that pullbacks will be met with aggressive buying and that the selling will abate. Emotions can turn on a dime and sellers can turn to buyers on a dime. The speed with which the selling abates will probably be correlated to day to day events on the battlefield. I have no doubt that the US and Coalition forces will eventually defeat the Iraqis. Assuming that the direction of the market is correlated to a Coalition victory, the direction of the market isn't as uncertain as the timing. I will be looking to take positions in gap areas left on 3/13, or near support in stocks that didn't gap up. So far my list includes the following stocks with approximate target entry points:

CSCO: 12.50
FLEX: 8.80
MOT: 8.15
ORCL: 11.05
PSFT: 15.90

Larry: Get well, buddy. Shingles can be very painful. Your typing is always bad though, so don't blame that.

Prayers to our troops in the Middle East and to the people of Iraq who are effectively being held hostage by their own criminal leaders.
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