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Strategies & Market Trends : Position Trading Forum

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To: epicure who wrote (446)	8/20/1998 11:18:00 PM
From: BubbaFred	Read Replies (4) of 7247

Mr. X - Good points and good sectors to be looking into. Don't forget the telecommunications and networking, but both are pricey. Let's get serious again and let's share some ideas on how to play this volatile market. The chip and semi conductor sectors have been a laggard and looking more sickly every month. No end in sight for any type of turnaround. The S&P will continue going down, to about 20% from the high, or 950. Likewise with Dow30, to about 7500. If the low is not made in September, it will be in October. Presently, I am looking at the pharmaceuticals and play the volatility. I think there are plays in PFE, MRK, JNJ, SEG, etc. Airlines are down, despite low oil prices and rising airfares. Any thoughts? Will oil prices start going up? I doubt that. Business slow down? and taking profit? I think those are more likely reasons. I am waiting patiently for AMZN and YHOO to make their big drops. That AMZN is way over priced. The slightest bad news (lower sale) will bring it down 25% quickly. Anything in particular that you are looking at? Any comment?

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