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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?


To: orkrious who wrote (74873)4/13/2001 5:07:43 PM
From: KevinMark  Read Replies (1) | Respond to of 99985
 
>>>I've been nervous ever since I laid out my massive (for me) AMAT, KLAC, and NVLS shorts on Friday. After reading your post, I'll sleep a little better tonight. <<<

Did you happen to noticed that back in 98', before the crash in October, the sox index rallied 60% from the bottom in April till then, and the compx rallied nearly 50%?

If institutions are long and everyone expects a sell-off, then the institutions will continue to move prices higher at will, regardless of the fundamentals.

KM



To: orkrious who wrote (74873)4/13/2001 8:31:46 PM
From: gold$10k  Read Replies (1) | Respond to of 99985
 
There's nothing about this chart that indicates anything to me other than a bear market rally in the SOX.

askresearch.com

Based upon the kind of valuations that usually result from a bear market, I expect a return to the October '98 lows in all the major indexes, although not necessarily right away.

Just my 2 cents,

vt



To: orkrious who wrote (74873)4/13/2001 8:36:31 PM
From: Justa Werkenstiff  Respond to of 99985
 
Jay: Re: "I've been nervous ever since I laid out my massive (for me) AMAT, KLAC, and NVLS shorts on Friday. After reading your post, I'll sleep a little better tonight."

I would rather be short than long here but I am neither. Going short as an oversold bear on the upswing can get hairy. Check out the trading range for these stocks and pattern in 1998 at this same time. It was the same deal -- a trading range.

Good luck.