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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: P314159d who wrote (52331)	5/27/2000 1:41:00 AM
From: Roebear	Read Replies (2) \| Respond to of 99985

P314159d, Thanks, and in reference to: "Remember as the fed raised rates, people said tech stocks were immune? Remember when the NAz broke down the first time, those pundits told people to go for CSCO and AMATand ORCL etc. the quality bunch instead of the Internets? Remember when Qualcomm was worth 2000 according to an analyst? Remember the Amazon call ?" Very good points and I thought the first one (techs and interest rates) was a real ringer! Qualcomm 2000 (or 1000?) was another. In any case you should always listen to the prevailing wisdom and the analysts, right? LOL! I hate to forecast crashes, I'm much better at picking bottoms when they form and that is a risky enough business. But I will agree, and strongly, that the market environment is changing and most investors haven't a clue about it yet. They think because they held or bought through a few short- lived downdrafts and did well that they will be OK, not to worry! I have been educated in not holding too long, through the various gold (and oil) bear markets and also in not holding long enough in the recent oil bull. I had some large positions there at the bottom, in stocks that are now triples+. . Last September OTOH, I was astounded to watch some gold option holders (amateur) NOT SELL when they had massive increases in their positions. I urged them to sell half. They rode them down to near even! I had friends in some biotechs that had ten baggers, once again I said, sell half, there is nothing to lose! Guess you know how that ended also. Every tyro wants the "next Microsoft"! Well, I'm off for some shuteye before these trading stories give me nightmares. VBG Roebear