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Strategies & Market Trends : Three Amigos Stock Thread
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To: Sandra who wrote (8139)8/29/1998 10:10:00 PM
From: Sergio H  Read Replies (3) of 29382
 
Amigos y Amigas:

I put stop orders on all my holdings on Wed. night. The market helped me liquidate all my positions on Thurs. I haven't turned my computer on or checked for a stock quote since Wed. night. I did cheat and asked Cary on the telephone for a few prices though. Ouch !!!!!!!

My buying and selling decisions on individual stocks up to now has been based on fundamentals. This has temporarily changed. Stock's fundamentals had begun to have no correlation with the stock's price performance. Additionally, the major indexes for small caps as well as large caps had broken support. It was time to take a break from stocks.

Is the situation different now than it was on Wed. night ? The pros are saying publicly that the market has over reacted. I'm still wary of the market at this time and urge extreme caution. Look for sanity to return before throwing your money away.

My interests in the market have been focused on small caps and will continue to be simirilarly focused. I caution all that the small caps will not provide good returns until stability is restored in our markets.

Our market needs to establish sector leadership before we see a trend reversal. I am seeing some strong interest develop in the drug stocks. Merck, Eli Lilly, Johnson & Johnson are good examples. I'm
staying on the sidelines for now watching the developments. When fundamental factors become relevant, I will be back in the trenches.

Sergio
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