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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: stormrider1 who wrote (41651)	3/24/2001 12:11:09 AM
From: Canuck Dave	Read Replies (4) \| Respond to of 56537

Just been looking at a lot of charts. Something isn't adding up. It seems more than a bear trap rally, or a Nasdaq bottom, it's something else. A lot of buyers met a lot of sellers today and the action was all over the place. IBM up, CSCO down, MU up, NT down, that sort of thing. Secondaries dormant and defensive sectors getting hit. I've been nibbling at silver and gold as an undervalued asset class and a hedge against a weaker US dollar. As much as I want to see precious metals have a run, I don't really want to see the a collapse of faith in the monetary system. That's exactly what a lot of people are predicting. Too much credit out there. Three bond funds have had their assets seized and the cracks may be appearing in a sea of bad credit. A couple of Telcoms in Chapter 11, a couple of banks going down, and the snowball could be on its way. Anybody else get a handle on today's action? CD