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Strategies & Market Trends : Waiting for the big Kahuna
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To: Robert Graham who wrote (19081)5/26/1998 2:14:00 PM
From: epicure  Read Replies (3) of 94695
 
I didn't even realize how much the market was down for a while since most of the stocks I am watching were up. ATT up a point, same with NXTL- and it isn't on miniscule volume (which would worry me.) So I think the funds are still looking for value, and they may be moving out of some of the vaporware stocks- SEEK is getting thrashed today. I don't know if that is sector wide. But that kind of move toward REAL value strikes me as healthy, and a backoff from the blowoff mentality we saw when the net stocks were running.

For what it is worth, my fibb indicator got very close to a danger zone a few weeks back but has been edging down towards neutral ever since. That is why I went long selected oversold stocks last week. That may have been foolish- time will tell.
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