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

To: Jill who wrote (6438)	3/21/2001 11:07:34 AM
From: Michael Watkins	Read Replies (2) \| Respond to of 8925

I guess the best thing I can say at this juncture is to take things one day at a time. Everyone is getting extremely negative, and while that doesn't rule out the worst from happening, make sure that price and not emotion is your guide. My only two trades so far this morning were long ones... does that mean that I think the market is "saved"? No, just that things are stretched and Diabolical Thinking (tm) works as well against those with short bias as well as those with long bias. No bias is what we need to strive for. Too early to tell here but we could witness a move up in the S&P names, probably a faster rally in NDX, and still clunk at some later date. Those puts will be cheaper near the top of the rally, it it materializes... We'll have to let today, and perhaps tomorrow, play out. Thursday's book to bill number for the semi's is widely viewed as being a market mover, but who knows. Bottom line - don't make your plans based on future projections. Make them based on what price is doing in the time frame you are trading in.