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Strategies & Market Trends : NetCurrents NTCS -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (6016)	3/14/2001 10:51:43 AM
From: Michael Watkins	Read Replies (1) \| Respond to of 8925

Yes, it does feel good to be safe. There is no need to be a hero. Why is there zero chance of big v bottom? Ok, this is opinion only, and other more learned folks may have their own ideas. We may see a V bottom "today" but given the overhead resistance, its very likely that as a move up tires, it will retrace. The fundamentals of the economy aren't there to support a gap up and run away like 1998. No, fear will return at some levels (assuming that things move up from here and fear leaves for even a day!) and there will be a retracement. So my plan - wait for it, and buy stops above the retracement (depending on the picture of course) and when the market moves up again (if it does) we will be stopped in automatically. The market will have PROVED it wants to go up rather than us making a bet that it will. Missing a few points here and there is nothing. My opinion though is that this will take a very long time to play out.