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

To: Dave Gore who wrote (117520)	11/29/2000 11:36:48 AM
From: Dave Gore	Read Replies (1) \| Respond to of 120523

BTW - I don't think it practical anymore to analyze much more than 24 hours ahead. Too many unknowns still. I look at the news of the day (and since the market close of the previous day), judge current market psychology, and then make buying decisions based on that and light technical analysis and likely buy/sell points. I am not nearly as savvy as Jenna when playing the downside, so except for some puts, I am trying to catch bounce trades and doing fairly well scalping. It is hard to exercise extreme patience when buying long, but you simply have to stick to strict guidelines when buying and selling in this market. I am also sticking to the dozen or so stocks whose behavior and fundamentals I know well.

To: Dave Gore who wrote (117520)	11/29/2000 12:11:07 PM
From: Lane Hall-Witt	Read Replies (2) \| Respond to of 120523

Dave: Agreed. KM caught my eye in his first note when he called 2680 strong support -- I now see his response to my post when he, too, clarifies that he meant support for a trading bounce. That makes sense to me. But you're right to keep me honest on time frames, because I usually think intermediate-term (week to week, month to month) instead of short-term (day to day). I personally didn't take today's news as positive for the market, although you're right that the market has calmed considerably after the morning dip. I don't get any impression that Gore will concede until after all the judicial actions are complete. I think he was simply offering a sober (if overly optimistic: his chances are probably more like 10 percent, tops) appraisal of his chances, given how difficult it would be for the courts to overturn the Secretary of State. The market should remain focused on December 12 -- later if Gore does pull ahead of Bush somehow, because that will draw additional legal action from the Bush team and could also draw the Florida and U.S. legislatures into the fray. As I mentioned earlier, I think the GDP number is bad news, ultimately. It's slowing enough to hurt profits -- indeed, the GDP breakdown shows extremely weak profit growth -- but probably not enough to draw the Fed into action. The market is really expecting the Fed to step in sooner rather than later (look at the strength in the financials today: AXP, C, NTRS), but I'm not at all convinced this will be the case. Last night, the Fed seemed to give very clear signals that it will remain vigilant. I'd like to see the market reset expectations to account for an unfriendly Fed so that anything positive from it would come as an upside surprise.