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

To: American Spirit who wrote (16158)	4/12/2001 5:48:57 PM
From: golfnut777	Read Replies (2) \| Respond to of 37746

American Spirit, I'd like to believe that it's onward and upward from here but I don't see any factual evidence that anything has changed from a week ago and can find no reason for this rally other than a hard technical bounce. Obviously sentiment has changed but why ? Companies are still announcing massive layoffs, limited to no visibility for the foreseeable future, high fuel prices, consumer sentiment continuing to decline, etc. One of the keys to the decline in the first place is drastically reduced spending for this year. Capital budgets are essentially set for the year and I don't see that improving to any large degree. My fear is that this is just a set up for even lower prices or a least a retest of the lows. Until the sector leaders starting showing signs of an improving outlook, what would be your reason(s) for buying at this juncture, especially after this fast runup over the last week with some stocks increasing 100-300% ? My gut tells me this is too much too fast and there will be a hard fall within a couple of weeks, maybe after options expiration. However, I don't want to miss the ride either.