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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: dennis michael patterson who wrote (7232)	5/7/2001 11:31:34 PM
From: American Spirit	Read Replies (2) \| Respond to of 52237

Quit trying to scare people, Dennis. Everyone knows about the tech slowdown. They're not going to be "toast". They're already near their bottoms, most of them. And some of the biggest ones have been doing just fine. IBM deserves to be where it is, for instance. Still, I am fairly defensive now. I have been buying oil stocks. But I don't expect too much of a movement in either direction this week. Downside 100 points on the Naz, upside 200. The Dow could easily get above 11,000. Might even stay up there with the help of oil stocks and Baby Bells. I know you like bad news but to try and get people to be shorting right before a Fed meeting is not doing anyone a great service. If there's a CSCO sell-off it won't last long. 1-2 days tops then rally into the Fed meeting. No one is expecting anything great out of CSCO anyway. It's practically a non-event unless they surprise. What bears need to realize here is that any real movement to the downside will only come about if current bullish mass sentiment suddenly changes and there is no good news around the corner. Thanks to the 5th Fed cut in four months this market has fairly strong support. I repea, do not fight the Fed. At least not unless there's just been a very nice rally. No way longs want to sell going into the Fed meeting. Maybe right before but not this early. And many will buy Thursday-Monday in anticipation. Still bears may have a one day opportunity tomorrow or two if CSCO disappoints. I expect the Naz to be down modestly. But then I expect it to bounce right back. Keep all this in mind for a balanced perspective.