Hi Gary.
>>>where would you put $ to work?
I'll bottom-fish widely-held, strong, mid/large cap stocks with good earnings prospects. I'll go 100% in margin for some quick plays.
Rough targets, +/- a couple of points.
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CCI @ 150
CSCO @ 90
LU @ 85
MSFT @ 101
DELL at 101
AOL at 108
BMCS @ 45
----Maybe---
CMGI @ 63
YHOO @ 82
NOK.A @ 78---ADRs are trickier to play.
>>> Any thoughts on bounce up from 200d MA (Dow a little below it, SPX a little above it), now that Acompora turned bearish?
Obviously, tomorrow's opening will depend a lot on the degree of selloff in the overseas market, especially Europe's intraday action(Asian market selloff doesn't matter that much).
Looks like DOW is the only index out of the big four(DOW, COMPX, OEX, SPX) that it is right at its 200 dma. With weakness overseas, DOW will obviously break thru its 200 dma at the open. I think that we would approach the 200 dma on the other three indices but we will bounce from those levels. We could loose another 170 points in DOW, 30 points in SPX, 20 points in OEX and 60 points in NAZ before bouncing back.
Again, let's stay alert to the intraday action in the European markets tomorrow.
Clint
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