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Strategies & Market Trends : Z Best Place to Talk Stocks
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To: Ron McKinnon who wrote (52003)8/1/2004 11:12:47 PM
From: DanZ  Read Replies (1) of 53068
 
As always, it depends on which stocks you are trading. Most technology stocks have gone pretty much straight down the last four weeks with next to nil rallies along the way. Unless you've picked the bottom of each day's trading range and taken a few pennies profit, and held little overnight, it has been hard to make money on the long side.

Any guesses how the market will trade tomorrow with the terrorist threat out today? The S&P futures are only about 4.5 points below fair value on Globex and most large Asian markets are down less than 1%. Glancing at random message boards on the Internet tonight, everyone and their brother is calling for a panic selloff tomorrow. The masses aren't usually right, and my guess is that the markets will rally off early weakness. A threat isn't an actual attack and too many people could get caught short thinking they can make an easy buck. Panic selling or buying isn't usually sustainable, and I don't think that weakness due to a threat is sustainable. If the markets turn up it could easily build on itself. And then again, the masses might be right and the market could tank due to nothing more than a terrorist alert. Anyone have a guess how it will go?

By the way, Vishay releases their earnings before the market opens on Tuesday. The estimate is 24 cents per share. I think that they will meet or beat by a little, but the forward guidance will be more important.
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