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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: bglad who wrote (24759)	4/26/2000 8:07:00 PM
From: DlphcOracl	Respond to of 57584

Jes' biding my time. I'm sitting on 100% cash in my non-taxable account and not playing this game for the next 2 1/2 weeks. Once we are through this week's earnings, focus shifts away from earnings toward the usual Fed rate hysteria. My guess is that the NASDAQ will gradually retrace this week's gains and head down toward 3300 in the week and days before the May 16th Fed meeting. I believe THIS will provide one of the few good buying opportunities this summer for ST trades. The Fed will raise rates "only" .25%, there will be a few days of "relief rally" and then I will go 100% cash again. I will then sit out the summer as the NASDAQ "washes and rinses" between 3400-3900 range (totally unscientific guess, on my part) and wait until October for greed to once again overtake fear. The risk/reward ratio for initiating new positions in tech stocks over the summer is (IMO) not favorable. I consider this a true bear market in tech stocks and it will take a good 5-6 months for this to resolve itself. Dissenting opinions always welcome. DlphcOracl