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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: voodooist who wrote (23020)	4/12/2000 11:08:00 PM
From: Larry S.	Read Replies (2) \| Respond to of 53068

Rules of Engagement: 1. Don't be in margin. Don't go another 10-20-30% in margin to try and grab a "bargain" that is disguised as a falling knive. 2. Cash is fine. 3. Dump your entire portfolio, at least figuratively. If you were all cash, which stocks would you buy now. 4. Selling your winners and keeping your losers is extremely counter-productive, and expensive. That means you are selling the good ones to hold onto to the sh*t. 5. This is NOT the time to be even more speculative. The market is telling us that the old economy stocks, the financials, industrials, airlines, retail, baby bells are the stocks to own. Jeez, CLX - Clorox, went up 7% today. 6. We are much closer to the bottom than the middle. The Nas has had a full 25% retracement from its highs, that qualifies as a bear market. The history of bear markets in recent years has been steep and swift. Yup. 7. The big guys, SUNW, CSCO, INTC, etc were swept down today. This is healthy. They probably have further to go, but it generally it is considered that the big guys have to buckle before we can advance again. 8. The Internet is far from dead, but the excessive valuations that we had were ridiculous, though they didn't appear that way last month or two. The strong nets, yhoo, ebay, etc will be huge winners. the wings and prayers will most likely crash and burn. go with the good stuff. 9. Why are we unwilling to take a small loss? we'd rather have it grow into a big one. AHA 10. Why do we want to keep buying the same high tech wrecks that have been killing us, instead of buying the stocks that are moving (up). Good luck to us all. Panic is starting to set in. Don't lose perspective. Don't get crazy or stupid. Before you click "enter" on an order, step back a second and think about it. From one of my favorite sites (7 Bells): <<Nasdaq heads sharply into a test at 3700. Real fear has entered the market, which may signal an impending double bottom event. But there's no need for heroic trading while we wait. Stand aside until the market offers a low-risk, long side opportunity.>>http://www.hardrightedge.com/trader.htm -also from the same site: <<Tech stocks sold off for the third day in a row, which pushed technical indicators in oversold territory. This increases odds of a rebound as early as Thursday. One probable scenario is for stocks to show some weakness during the morning session but rebound strongly during the afternoon>> Larry