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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: MythMan who wrote (263727)10/15/2003 10:48:26 AM
From: Lucretius  Read Replies (1) of 436258
 
Buying Opportunity Knocks

By James J. Cramer
10/15/2003 10:02 AM EDT
Click here for more stories by James J. Cramer

Trend Analysis BULLISH
Unless IBM had an awful quarter, buying makes sense.
The animal spirits aren't there.
Today's subdued opening couldn't be faded.




Another chance to get in? Another opportunity to buy at levels that are lower than we should expect?

It seems almost too simple. But it feels right. Or, to put it another way, you have to have a really bad IBM (IBM:NYSE - commentary - research) number after the close to make you look foolish if you are buying, and I don't think that will happen.


What's truly amazing about this tape is that there aren't the animal spirits that I expect. I'm sure most traders were set up today to fade the big opening and then bring in the shorts when the market was flat, or maybe pick up some stocks when the market was down.

But that didn't happen. Instead we had a subdued opening that couldn't be faded.

It looks like a buying opportunity
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