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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (44462)	8/27/2003 3:17:44 AM
From: IQBAL LATIF	Read Replies (1) of 50167

This article..betting hedges on both side of the market <<based on the market's and leading stocks' action, we may be in for one heck of a fall unless something big changes>> 1-One more positive to pull from the market's price/volume action is that the S&P 500 (CBOE:^SPX - News) managed to squeak out another close above its 50-day moving average. 2-One freebie that is setting up and has solid fundamentals is Yahoo! (NasdaqNM:YHOO - News). This stock is poised to move through a double bottom base with a pivot point at 33.97. I must say that everyone concerned with historical valuations will laugh at me and YHOO's 111 PE, but the chart looks like it may make a move along with triple-digit quarterly earnings growth rates. Price and volume seldom lie and I have had many short-sellers willing to bet that it would drop before rising and I haven't seen that happen yet! 3-There is no doubt trading is slow right now and may remain that way through Labor Day. But based on the market's and leading stocks' action, we may be in for one heck of a fall unless something big changes. biz.yahoo.com

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