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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum -- Ignore unavailable to you. Want to Upgrade?


To: Dave Gore who wrote (1440)1/11/2001 1:16:40 PM
From: Dave Gore  Read Replies (1) | Respond to of 6445
 
OK, since FDRY reached my 2 month target in 2 days and RNWK has doubled from a couple weeks ago and ADPT is nearly a double, is it getting close to time for the NAZ to take a breather soon? How long will negative news be ignored? The ebbs and flows are fascinating.

Of course right now everyone is on a "high" and most all are pleased to see the money flow into techs with great breadth and negative news largely being ignored. CNBC and many analysts are sickeningly positive again...doing their manic act once again.

While I am very pleased to see this multi-day rally, I have to admit that this is when I start to get a little suspicious. This is when I start to consider "PUTS" again in those overvalued stocks. The more the NAZ goes up, the more the odds are likely shifting from positive to more negative. VIX is below 30 again.

There is always the chance the Market buyers will continue to gain confidence, so I am not buying PUTS yet or selling all longs yet, just getting ready. If we could get a NAZ rise to near 3,000 that would allow continued profiting in long positions and set up shorts even more beautifully.

Dare we hope for NTIQ in the $100's again? What are the best looking "Shorts" out there in your opinion Jenna, et al, if we get a further rise? I know you call these "live" but just curious which look like the most suspicious candidates for a likely drop over the next month or two (i.e. the top candidates on peoples' "most overvalued list")



To: Dave Gore who wrote (1440)1/11/2001 2:06:13 PM
From: hjz  Respond to of 6445
 
Dave, The market is in one of those buy on every dip rally. It started on Monday afternoon at about 3:00pm when the market hit that 2300 level and the market has held that level 4 times in the last month. The market top is near 2650 so that is the key now and it looks like we are approaching that level now so unless we break that strongly today or tomorrow on heavy volume, I am ready to buy some puts to protect profits.

HJ