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Strategies & Market Trends : WR's Momentum Trades -- Ignore unavailable to you. Want to Upgrade?

To: Bernard Ng who wrote (9659)	3/15/2001 7:23:10 AM
From: ChrisJP	Read Replies (1) \| Respond to of 11130

Hi Bernard, Looks like we're in a no-man's land trading area, doesn't it. I was gonna mention last night that I saw some interesting support for MSFT @ 54, CSCO @ 20, NTAP @ 20, CMRC @ 10. I bought some OTWO @ 1 3/4 .. couldn't resist a stock that is down 75% in 2 days. What can I say ? Goooooo PNFT ! Gooooo TALL ! lolol Short term predictions are almost impossible in this environment, but in the scheme of things I would describe the markets as "in the 8th inning of a 9 inning baseball game". The recent correction of the S&P and DOW are the sign of that. So in the near term, its kind of a guessing game. Just as nobody want to catch the falling knife, nobody wants to be the dope who sold at the rock bottom. If consensus rock bottom on the NASDAQ is 1800 -- who wants sell below 1900ish ? Same with the S&P 500 -- who wants to sell @ 1100 when consensus bottom is 1000 - 1100 ? Of course the consensus opinion is subject to change, lol. Global economic meltdown, war in the Middle East -- all could cause that change. Ummmmm the ball game could go into extra innings too !! Good luck today, Chris "Wishy-washy" JP

To: Bernard Ng who wrote (9659)	3/23/2001 6:29:50 AM
From: ChrisJP	Read Replies (1) \| Respond to of 11130

Hi Bernard, Don't rule out the possibility of a tradeable rally sometime soon. I thought we were gonna have one leading up to the rate cut. Ummmm ... something tells me I was a little early. I get the feeling the smart money shorts have gotten out of this correction what they wanted: NASDAQ -1800; S&P 500 - 1100. Unlike longs, smart shorts know its not a good idea to stay at the party too long. BTW, the PE of the S&P is now 20:1. But don't be surprised if we rebound back to the 50 dMA something like 2200 - 2300. As you can see from the 2:45pm move yesterday, the rally can happen very fast. Of course, it can end fast too. siliconinvestor.com Of course, after that, it depends on upcoming earnings reports and so on. Good luck today, Chris