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Strategies & Market Trends : Ask DrBob -- Ignore unavailable to you. Want to Upgrade?

To: iowamann, Spam Queen who wrote (5658)	9/20/2000 11:59:15 PM
From: bcrafty	Respond to of 100058

iowamann: I can see it in the stars, I mean the tealeaves, that the naz will be up tomorrow. I'm cautiously optimistic. That upward run we had beginning around 1:20 showed that the bull still has some life. It reminded me of a day in late May when I was short and watched the naz go down all day. At about 3:20 or 3:30 I decided to carry my shorts overnight and I went to do something else. When I came back a half hour later the naz had gone up 100 points. So it reminded me that just when you think the bull is through, you can't be certain that it might get up and start kicking. The bigger question is "what is it going to take to get some more buyers off the sidelines?" I don't see this oil news affecting techs that much, except as to the way it would temporarily affect overall investor sentiment and psychology for a little while. Two years ago I thought the "Asian flu" was a much more serious concern at that time, and look at how quickly and completely that dissipated. This market's so crazy and makes no sense it's no wonder you and I are trying to figure out whether tomorrow will be up or down. One day stocks drop because of high valuations, a month later we're scooping up the same stocks at higher prices. One day stocks drop for fear of lower earnings, two weeks later we're rallying as we're anticipating good earnings. It's like having a moody significant other. You might have the right idea on position trading instead of day to day trading. I think it takes more research to do it well, but as Dr. Bob says, it's easier to use TA to predict intermediate moves than short term trends. In any event, I vote for a higher naz tomorrow, but I hope I've not become starry eyed.