To: carepedeum2000 who wrote (25311 ) 5/4/2000 10:59:00 AM From: Rande Is Read Replies (1) | Respond to of 57584
Carpe, you are still in the drivers seat today. . .if Julie sticks around, she can certainly grab one of the reins. . .you guys have a better feel for this strange market anyway. I'm writing from Lebanon, TN. . . home of Cracker Barrel corporate headquarters. . . and I'll be mostly out again all day today. I sold a few stocks into morning strength. . just to reduce some more risk. Look at the Dow intraday. . .I've been watching all morning. . . the Naz takes off on its own. . .so the Dow goes spastic. . .up and down. . up and down. . until the Naz slows its climb and begins to track . . then the Dow does its Kamikaze dive straight down, forcing the Naz to follow. . .eventually, the Naz begins a free fall. . with the Dow. . .like so many days before. [I prefer watching the NDX & Dow] I have watched this dance many times. Anything to keep the Naz from outperforming the Dow. . .remember the Dow is only 30 big stocks that no longer get the heavy trading they used to get. . . so it is relatively easy to manipulate.. . . fortunately, after several days of this routine. . . the Naz will often find its wings and begins to "ignore" the Dow. Now, if we can just get traders to stop watching the Dow completely. . .then the markets will be that much more difficult to manipulate. "Ignore the Dow" is the new catch phrase. Meanwhile, there is money to be made today. The volatile stocks are hot once more. . . the same names as always. Stay light on feet and take those profits often. . . and don't get caught holding. . . no clear indication that strategy should change yet. IPO market too soft here. Dow value plays petering out. . . gold mostly doing same. . .as for long term plays. . I'm sticking with value. . . I like where lg retailers are priced today. . .I don't believe spending will slow, nor do I believe we are headed for a recession. . it has already been proven that we can have an expanding economy with higher interest rates AND low inflation. So WMT, BBY and COST are starting to look good at these low levels. T is also beginning to look real nice. . .as I have confidence that their cable holdings will eventually become more important than their long distance. . . due to the digital [fibre] set-top boxes rolling out soon to the many homes with or without current internet access. . . and the ease of use associated with that format. Enough for now. . Best wishes to all. . . Rande Is