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To: Ditchdigger who wrote (1400)6/8/2000 8:12:00 AM
From: ChrisJP  Respond to of 1568
 
Hi Kenny,

I don't know when you re-invested, but if you did it before last Friday, you are one smart guy !

Except for momentum plays, I am still mostly out. I REALLY thought the market would take a breather this week. So stocks have but the ones influencing the averages have not, so the picture is a little cloudy.

I probably makes sense to average in on pullbacks, since it tough to see the markets making another severe dive before January. I was ready to average in this week but there's been no substantial pull back. The markets must have known my plans. LOL !

Anyway, averaging in, in a diversified manner (except for big cyclicals like housing, big consumer durables) is the way to go. I figure stay in though January unless CSCO breaks below 50 (or the NASDAQ breaks 3000).

BTW, I posted on the Amigos thread. If you would prefer to just post there (unless, Sergio does not want market direction talk), then just find my post and reply to it.

Regards,
Chris



To: Ditchdigger who wrote (1400)7/8/2000 1:21:07 PM
From: ChrisJP  Read Replies (2) | Respond to of 1568
 
Hi Kenny,

Well are you back in any Janus funds ? I started thinking about 2 weeks ago that the market was climbing "the wall of worry" when we never re-tested 3400-3500, and the NASDAQ appears to be trading on or near its 50 day/200 day moving average -- which is heading up.

I follow Zeev Hed's turnips, which also predicted the possibility of a re-test on 3500 before heading up, but it looks like he may be right on target with a rally lasting till the election or maybe a little beyond that.

One thing that's interesting is that during the NASDAQ's move from 3050 to 4000, there was a list of stocks that rebounded quite well (they've doubled !). But yesterday, as a group, they were weak. I'm not sure what to make of that divergent behavior. Got any thoughts ? Here is the list:

quote.yahoo.com

As you can see, BVSN bit the dust Friday, and CTXS, which used to be on my list, bit the dust earlier in June. INSP actually looks like it's trading in a channel between 50 and 60.

The one I'm really kicking myself on is NUAN. Jeez. :-(

Oh yeah, and keep an eye on VITC if it dips back to the 5/8 - 3/4 range.

So which stocks power the NASDAQ on Friday ?

Regards,
Chris