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Strategies & Market Trends : WR's Momentum Trades -- Ignore unavailable to you. Want to Upgrade?

To: Wayne Rumball who wrote (8532)	10/13/2000 6:56:23 AM
From: ChrisJP	Respond to of 11130

Hi Wayne, The NASDAQ stocks that rely on Internet usage for their livelihood sure seem to have charts that look like a lot of OTCBB stocks I follow. Jeeeeez ..... I'm not even sure what will happen to day. PPI ? Margin calls ? Bargain hunting ? Heck, it changes every 90 - 120 minutes intraday. According to Yahoo, the CSCO chart is now showing the 50 dMA below the 200dMA. First time in 3 1/2 years. The weekly NASDAQ chart says the selling is almost over ... so maybe once the markets have factored in MSFT's earnings and forward looking statements we will see some stabilization. But at what level, lolol ? So lets say the selling stops in a week or two, and by default the markets move higher. Before betting the farm, the question to ask is will next quarters earning's be any better than this quarter's ? The other thing to note is that even if the NASDAQ doesn't drop below 3000, the new trendline suggests that the NASDAQ will only rise on average 10%/year. And I'm guessing for the next 6 months, the 50 dMA or 200 dMA will be the upper limit on any rallies -- unless oil plummets or the fed cuts rates. By the way, according to Yahoo, the current NASDAQ 200 dMA is around 4000, so its always possible to have a short term rally that moves the NASDAQ up 20% - 30% from here -- so there are still opportunities to make a ton of money. Regards, Chris