LastShadow's Position Trading Message Board

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Strategies & Market Trends : LastShadow's Position Trading

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To: AlienTech who wrote (8716)	2/17/1999 4:50:00 PM
From: LastShadow	Read Replies (1) of 43080

"They made a whopping 31 cents. 31 cents you kidding?? SYMC made like 45 cents and its trading at 17!" Actually they made 5.2 billion, they just have a few more shares to divide that by than SYMC... The problem is that the stocks have come DOWN to their 200 day MA, not up to it, which is the buying signal. Right now there should be more hesitation to go long rather than an impetus to jump in. The volume is going to be the key to watch now and not the price action. There are about three weeks of 10-13 billion per week in 401k/IRA/fund money stockpiled waiting to get invested already. We can look at the indices and sectors all we want and think this stock has a good price, or that one should be low enough. But the entry will come when the funds start loading up. And they can be patient about that. The longer we stay in a horizontal correction, and we still are even with today's numbers, the more likely a drop. The caveat is not to get overzealous here. Buy what looks good for the daytrade, but if you are investing for the term, make sure you set some stops and reenter when it bottoms the next time. We won't know when the reversal is until after the fact, so trade carefully. lastshadow

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