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

To: Lane Hall-Witt who wrote (5205)	2/23/2001 4:10:46 PM
From: Dave Gore	Respond to of 6445

Lane, good thoughts. Here's my take. I posted a couple hours before the Wayne Angel news that the Feds may cut soon, maybe even this weekend, so I am feeling physic...lol! Seriously though I'll take this rally and made about a dozen trades and had an excellent day on the long side. What this educated rumor is doing is providing a catalyst which, when the NAZ is so low, could provide a big upside whether the Feds cut next week or not. While we had a lack of buyers lately and quite a few sellers, now we may have the opposite. And I'll tell you one thing, there are very few people who will be willing to short this market next week. By saying "Next Week", it provides a potential 7 days for shorters to rethink their positions. I bet many will probably decide to cover, just in case. The short coevering alone could provide a significant upside to beaten down stocks. The Reward to Risk ratio on the long side just went up dramatically. It's all perception now...and the perception of REWARD on the long side is all of a sudden much greter than the perception of LOSS. I expect an "Up" market next week.