Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 182.35

-0.6%

3:59 PM EST

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To: Nicole Bourgault who wrote (5229)	1/20/1999 9:15:00 AM
From: Poet	Read Replies (1) of 56535

Hi Nicole, Your writing is perfectly clear. Don't worry. The futures are now almost 12, about 9 1/2 points above Fair Value. This means we'll have a rally at the open, most likely led by the tech stocks (remember Microsoft's VERY good earnings report after the close yesterday). But people always get nervous just before Greenspan speaks. If he implies that the market has gotten ahead of itself (remember his "irrational exuberance" remark) there will be a quick and nasty sell-off IN MY OPINION. If he does anything positive in the market's eyes, we'll continue our rally. I'm a nervous nelly at times like this, so I usually take my profits off the table and stand on the sidelines while Greenspan speaks. As far as lunchtime dips go, they tend to work best when you're trying to go long on a strong stock on a generally up day in the market. What happens is this: The brokers go to lunch from noon till 2:00. If they've had a good morning, they'll sell before lunch, then take a look at the market in general at 2:00 and jump in again. It's during the noon till two time period when stock prices tend to drift horizontally, then often dip a point or so, many times about 1:00 to 1:30 PM. This is when I buy, if I'm confident we'll rally in the afternoon. I hope this helps.

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