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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: Sharck who wrote (14174)	4/1/2001 1:15:27 PM
From: Jimbobwae	Respond to of 37746

GWSharck, An opinion by one of my trusted compadres: The NDX needs one more wave down to complete the correction (Target 1778) and then we will do some sort of an ABC pattern back up in a B-wave. I can't see it going much past 2800. Healthcare, retail and oil/utility are making wave 2 up and when finished will crash down like a ton of bricks. The Biotech will make a rally with the NDX and then these are excellent stocks to short. Remember that the DJIA is making a 4th wave up which should not last long and then will have to test the 9047 level again in a 5th wave. The SP 500 is not so lucky as it is making a 4th wave up but only in the 3rd wave and then it has to drop in a fairly dramatic 5th wave decline with support at ~1000. After NDX finishes it last leg down, I am long Tech and Biotech and short everything else. BWDAnyoneK? Hope everyone here has a great week, J

To: Sharck who wrote (14174)	4/1/2001 1:26:05 PM
From: Paul A	Respond to of 37746

Tom- thanks for those comments, that really was a nice pat on the back and I appreciate it! Im also glad you didnt mention how once every few months I wake up on the wrong side of the bed and walk around for a few days with a bad temper/attitude but we will just let that slide, right? :) Shark- I think its going to be one helluva an interesting week and im glad to be heading back to my fulltime job on Monday.. Getting the market information in 1/2 hour increments is alot more tolerable than watching it all day.. When Im home I daytrade, which risks bringing the demon out in me and helps me loss 50% of my account balance because I was wrong about a trade and lost my temper :) Position trading is 99% of what I do, but it sorta still has the trading twist since I dont hold past what I consider a visible future- say 3-5 days.. Actually the only day trading I will do now is when there is a huge gap up or down, and I can take a huge position, set a stop very tight to keep the loses down, and its either a 5-10% loss or a 20-30% gain.. NVDA would be a perfect example because 69-72 is pretty much the line in the sand so you could easily scalp a few points with a stop near those levels.. of course, never holding into the next day is another key point.. Its always a battle for me fighting the urge to gamble/loss my temper, but there are times where its silly not to put in a trade and try to make an above avarage 'hit' I think once the reality sets in regarding just how bad these numbers are going to start looking we will see a temporary bottom and thats where ill hopefully pickup my AMD, JDSU, CORV.. but I still think we need that Cisco warning to really get rid of these 'femster' types once and for all..