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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (3599)	3/28/2001 10:25:34 AM
From: Logain Ablar	Respond to of 33421

Hi Fred: On shorting @ this point in time I think you have one more good opportunity and then we start a strong bear market rally (not sure if we break the down trends) so be nimble. I do think we need one more drop to bring market sentiment up to put in a base for the rally. You may want to read some of Heinz’s posts on the CFZ or Zeev Hed’s on the channeling thread for timing a turn around. The main reason I think (I always get in trouble by thinking so take it with a grain of salt) we start a rally is the amount of liquidity being pumped into the system. This should create problems down the road but for now should help inflate the markets. On BRCD it has worked well for you and from the chart it looks like lower levels are in store in the near term especially if we go by the CSCO, NT slowdown warnings. I’d forget the accounting scam for now. It actually looks like management made the right moves to avoid further repercussions from the SEC. Note I’m not saying they didn’t scam the #’s but from my dealings with the SEC I’d say they’ve avoided any further damage (JMO again) on this particular issue (now if something new comes to light all bets are off). On QCOM chart wise it looks like it formed a bottom but the time frame is so short its not a strong bottom so I’d say the safer point to short is a break of $53 area. A good move by LSI long term on CUBE. I see the CEO started buying again around $23. Normally a good sign. Still think SOXX will go down with further cut backs in capital spending plans. With FAB’s @ less than capacity I can’t see the $$’s not being cut back (of course $$ will be spent where the cost / benefit return works but every $$ will be looked at. Tim