well Jer..you are absolutley correct....for the last 5 years in particular....it has been so easy, it's been like cheating.....with the USA on fire and the gazillions of $$$$$ pouring in from us baby boomers it has been a no-brainer.....with every 'healthy' correction
3%-5%-7%...all you have to do is take a ruler and draw lines across the former 'blips' to see the lines of support..and then throw darts at the 'growth monsters' or 'nifty 100' and STEP RIGHT UP LADIES AND GENTLEMEN...PLACE YOUR BET!!!....EVERYONES A WINNER and it has worked and i have been doing it...of course, some of them stink out occasionally, but overall it has been great!!......hey, there are the occasional disappointments! like IOMEGA....eat anybody's lunch around here??..h-m-m-m?..........now during this buy the dip time the only snags have been when there is a 'surprise'....something that might potentially undermine the relentless growing economy of the USA....and then the lines drawn with the ruler get violated.....April 1997, FED raises interest rates..10% decline and a mini-scare.........Oct 1997 Jap mention of 'maybe repatriating' on treasuries and mini-scare......
July 98 - Oct98...Russia, Clinton, Asia and a bigger mini-scare
all of these dropping thru these technically simplistic lines drawn by my 6th grade son or ABU from the Simpson's
so here we are in another healthy correction...9600-9100-8650..right with you on that...as long as there is nothing negative during this pullback ...if there is? ,,then 8100, 7400?.....but watch carefully there are cracks in the foundation...and from these cracks there are bad smells being emitted....it is starting to stink.....if there is no surprise stink, i, too, will buy this dip, as 'lowered bar' earnings come in next month and they all say .SEE, THING AREN'T THAT BAD' and we run to 11,000+ .......but the stink will become so bad later this year and first Q next year as Y2K and the world recesssion finally catches up with the USA.....as computer sell programs, margin calls and panic selling take your breath away....this shall become know to the following generations as ....THE GREAT DEATH SPHINCTER
I am short now and respecting the lines that ABU has drawn and passed on to the Homers of the market..they are profit taking targets....barring any unknown power stink..i hope to catch the bottom and see you at 11,400
beware of mega-stench and best of trades
bad smells
|
