Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: pooh who wrote (117083)	11/21/2000 1:52:20 AM
From: Dave Gore	Respond to of 120523

Good observation, but I will continue to believe until proven wrong that just about all the bad news is factored into the market. While there is certainly still a downside bias, and I certainly could be wrong about the following, I still maintain the likelihood is for a NASDAQ of 2700 - 4000 by Mid-January or so. If true, that means that reward/risk ratio will soon be favorable on the "long" side of quality, fundamentally sound stocks (5% add'l downside and 40% upside). Of course the likelihood of the 5% additional downside coming this week or early next is quite possible, but then I think there is a strong possibility that we will rally in early December. Part of what I believe one needs to do is set likely limits for both the up and downside. It really helps to put things into perspective as far as reward/risk goes. This is based in techno-fundamental research (Jenna's phrase) and sometimes a gut feel as well. One last thought - my more bearish vibes do admit a more negative possibility - that until more people "give up" and more fully capitulate and especially until we hear analysts and many heretofore long-oriented traders setting silly downside targets of NASDAQ 1,800- 2,000 we still could break down intraday to 2500 or so. This should only happen if companies failed to set realistic scaled-down expectations for the next 2 quarters and we see many earnings warnings in mid-December. Chance 20%. Remember this is an educated guess from a complilation of dozens of analysts and pundits in conjunction with my own thoughts and experience. Feel free to reach your own conclusions. No one really knows. ...and with the Market so volatile, the only people that will have a great deal of success for the next 2 quarters are those that find the real bargains or excessive tops and trade them effectively intraday or intraweek like Jenna and a few others can do, since any rise will be met with lots of profit-taking or loss-limiting before rebounding again at some point.