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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Tunica Albuginea who wrote (15952)	6/12/1999 12:38:00 AM
From: LTK007	Respond to of 56537

Well Tunica I have been surfing and studying charts and I have to say your suspicion that the inets will go a 200dma his distinctly possible,using AOL as an example,it has broken a triple bottom,and now a 200dma meeting would bring it to the 80-75 area--on checking the run up since the last time AOL was on its 200dma(about at 50),it is evident the inets were to be frank wildly overbought,and personally I would feel better if I could buy them bouncing off a correction back to the 200dma.Well I am done for the day--Good Luck,Max

To: Tunica Albuginea who wrote (15952)	6/12/1999 12:45:00 AM
From: Trader J	Respond to of 56537

Tunica: Please do drop by when you get a chance, we always welcome objective and factual information. No hyping, spamming or otherwise insulting posts are tolerated here. We have some very good traders here and we all help each other out, that is the name of the game. I think a retracement to the 200 dma is a bit excessive here, perhaps if the rate hike is larger than expected but I have to believe that the selling is about done. The only thing that worries me is any emergency fed action, or other unseen economic affecting event. GE looks pretty good here and is a safe haven. I myself prefer to keep trying to pick the bottom, losing 1/4s and 1/2s in order to ride a 5, 10 or 20 point run when the buying resumes. Who knows, it may not for some time. The market never forgets but quickly becomes desensitized. The rate hike and inflation are on everyone's mind but the "already factored into the market" statement is becoming widely believed. Looking forward to the eventual run, whenever it comes. Good luck to you. Tj