Mark Bailey: It's intuition, not a program. Burn your charts because we don't want a triple bottom.
facts:
The market is emotional right now, charting is objective.
Money investors have cash,pulled out of stocks etc, but have not reinvested the money yet. No bonds, Tbills, stocks, mutual funds, money markets. What are they going to do Monday? Hopefully Buy Buy Buy
Nextel went up two days in a row on small volume. Monday is a back to work day for brokerage houses and the working population, hopefully they want to buy some bargains, not sell.
After they gobble up Microsoft and Dell, perhaps they will have some left for NXTL. Watch the first hour, because I think that trading will predict the entire day. Tuesday and Wednesday NXTL held steady on low volume, and it was up the first hour.
In addition, I have a special date for lunch, so the market better jump up early!
Finally, never bet on what I say, if you believe the charts, bet on that. I'm an emotional investor so I just react to the emotion of the market, however, isn't it about the time that NXTL runs up in advance of the quarterly results?
Hope we all win on Monday
win one for the gipper, Al |
