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Pastimes : Nasdaq Bottom? -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (40)	12/30/2000 6:59:47 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 73

Hi bb, I think market tops are relative things because the actual occurrence of a top depends on the trader's/investor's perspective, I'd prefer to view market actions as up and down trends without the finality of a top or bottom... still, for a longer term investor who selects specific groups or specific companies for growth or for whatever reason, the top occurs for that group or companies and the overall index is less important... clearly the major market averages topped this past year, but not with the import of finality associated with tops... I just don't think these markets are going into a black hole... heck, I could be wrong but I just don't see that... many companies may find troubles ahead and numerous companies may, in fact, disappear off the radar screen, but that's the nature of markets and the arena of competition, other companies will thrive and outperform in that very same harsh environment..... I think if we ever really saw a DOW 100,000 then I doubt that would also be a top except for a brief while because of the significance of that number... Personally, I generally don't view markets as topping out... even if the markets did top out in the near term, for myself I see that as a long term, or even longer term, correction and an opportunity to pick up some bargains... this is what I mean when I suggest that market tops are relative to one's perception of what markets are... when the DOW crashed in 1987, that wasn't the end, but the beginning of the next bull market, a big drop on Friday followed by a much bigger drop that Monday... by Tuesday morning I was buying like crazy... the world didn't come to any end, the markets recovered pretty well and I scored big, very big..... To a very near term trader, and I do trade the futures and must be immediately near term or die, there are tops every 15 minutes... there are tops every week or two, every month or two, every 6-9 months, and so on... yesterday in the major averages I saw what appeared to be a topping action... but I only see that as an opportunity to pick up some bargains as the market averages resume their down trend this coming week, if they do at all... until the next tradable bottom which I'll trade as well..... I guess, now that I made an attempt at a definition of top, I think a better word than top might be trend... I think a trend is simpler to see than an actual top... I think the word top has the connotation of a final top and nothing can go higher than that, while a trend can turn up or down without any insinuation of finality associated with it..... GZ