Fred, it's not so easy to pick short term bottoms in Bear Markets, it's alot easier to pick tops. Would I go long Cube in a countertrend rally? Sure, but one has to act quickly or you lose a good portion of the advance. I would expect Cube to open sharpely higher on Monday. The time to buy was the last half hour on Friday, which I didn't. Why? I was to emotionally drained from realizing I had to cover ( see your Rareness is Human all to Human, after all ). Secondly, I'm not in front of a Bloomberg terminal all day, like you. I get real busy at my learning center in the afternoon after school lets out. I carry around a Quotrek during the day ( from DBC ) which helps. Who knows, maybe ( but I doubt it) I'll get a second chance at the open on Monday. I think the Nasdaq may rally very nicely over the next 2 weeks before earnings worries resurface at the start of the New Year. After that, it will all depend on earnings from Intel, Microsoft, Compaq, Motorola, etc. I don't think they will come through to the markets satisfaction, and we will get another leg down. There is no real buying power in this market these days. Advances are the result of the shorts taking profits.
PS. I don't want to belabor the point ( and I know I haven't been nice at times ) but I was very upset about the way the AC situation was handled over the summer. He should have been put in his place when he tried to equate investing in Cube with you know what! I backed off in the begginning but when there was silence or consent I responded. I'm not going to pursue this further, but this is my feeling. |
