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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: SSP who wrote (117982)	12/4/2000 5:50:39 AM
From: Jenna	Read Replies (2) \| Respond to of 120523

Rally? The Gap up everyone predicted where? Not in Paris, or Frankfurt, or London. Not in USA either. You can basically take your charts and throw them away, unless you are tuned 100% to fundamentals and NEWS charts by themselves are getting you nowhere. Without Fed intervention, charts are useless for more than intraday pops. However, we still have the advantage of the 9:50-10:10 reversal period. Here some of the 'quality' nasdaq stocks might change trend and give us some opportunities to trade on the long side while others in both the Nasdaq and NYSE will no doubt give us short opporunities. DaimlerChrysler cash reserves could sink and Ford issues a profit warning. With the mystery broadening as to which tech belwhether will be next to pre-warn, it doesn't look like a bottom is in. Sure once the Fed intervenes, chartists will go back to their charts and 'find the pivot points', that indeed therein lay the bottom, after the fact and for printing the next batch of uselss trading books, analysts and trading symposiums, it will look like someone actually called the bottom accurately. You CAN'T time markets, not with charts, fancy trading strategies, with parameters that boggle the mind of the neophyte who yearns to have the knowledge of the technical analyst. Well he needn't yearn or pine for anything, there is no Holy Grail. There is only meticulous techno-fundamental analysis, news reports as only 'artificial' intervention and no proprietory indicator that will call an end to this massive selloff. For shorters, it is probably another chapter for more profits. This market is a shorter's paradise. And if there is no uptick, no fret there are always option puts. In fact there is likely to be more shorting opportunities (as on November 27th), especially in our 'walking wounded' which we 'netted' Friday in the 2:00-2:30 reversal period, while the rally began to unravel.