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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Jay who wrote (13421)7/30/1998 12:18:00 AM
From: Robert Graham   of 42787
 
So you are a long term investor. This is different than who I was referring to as the public speculator that is out there looking for profits every time a stock wiggles out there expecting the market to go up any time now. Still as a long term investor you still need to be on the lookout for major market corrections. We may have one coming up here, but it is a bit too premature to tell. Since you have diversified you should not be seeing this market adjustment hitting your portfolio too badly at this point in time. If you are, and given that we have not seen a market correction yet, then I suggest that you may start thinking of ways to diversify in a better way that will insulate you more from the inevitable market drops. However, nothing can keep your portfolio from being impacted by a major market correction.

IMO now is a dangerous time in the markets for the short term trader. It can bounce tomorrow or go down to possibly make new lows. I see looking at the DJIA chart that the market can sell off more tomorrow before reversing. But a bounce which can lead to a reversal in direction is possible in the very near future. However, given the sentiment and the direction it has been taking along with the noted technical deterioration of key stocks, I am a bit skeptical that a reversal will happen. But it is possible. This is a market only for day traders. Tomorrow should give the rest of us short term players an idea of what is to come. We may see an evidence of a bounce first show up in the NASDAQ index.

Bob Graham
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