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

To: debby who wrote (17040)	4/18/2001 10:20:09 PM
From: American Spirit	Read Replies (1) \| Respond to of 37746

Thanks. Now let's hope the sidelines money keeps coming in, the last shorts cover and we get all these tech dogs back to fair value. Remember that a 20% gain is nothing here. If a stock is down from 100 to 10 and it goes to 12 that's still down 88% and it needs to go up 500% just to make half its territory back. Many stocks could double and still be down more than 90%. Outrageous situation. Still, expect some shooters to top off here soon and find a new higher range. Like ADBE which I sadly sold at 33 now at 47. Bought it at 27. Damn. Would have been almost a double. It probably won't break 50. But that is the exception. Most have yet to travel anywhere near their potential here, and that's why I say look at the most beaten down ones first. The time to buy the 1st tier was yesterday and before that. Now it's time for 2nd and 3rd tier buying. If you want to stay ahead of the curve go with 3rd tier first. I will not recommend any particular ones. Everyone has their favorites. If you think we're toppy either go to cash, use stops, wait for a dip or get into more defensive stocks like Baby Bells, some financials, select retailers if they come down more and oil. I would not short for another 3 weeks minimum for more than maybe 1 day at a time. So that's for day-traders only IMHO. MHO only all of this, I could be wrong. Hate to even give advice so THIS IS NOT ADVICE, get it? Just on a streak now which means I have the right feel for the market. Sticking to my plan fearlessly. Contrarian me. I'm finally right for a change. Today though cut in half the upside potential of the best stocks. For instance I don't expect IBM to get past 119 or AAPL past 29 or ADBE 50. Psychological resistance areas may hold in these type cases. I'm mainly betting on stocks to get back to where they were maybe six weeks ago, around a 2500 Naz somewhere. But the small caps may outperform everything now.