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

To: Paul A who wrote (25836)	6/2/2001 11:11:09 AM
From: besttrader	Read Replies (1) \| Respond to of 37746

I think your analysis is actually quite good, and I have actually been in the same mindset until I realized that they are keeping NVLS and other semi stocks that should be WAY WAY down, up. The book to bill was around .42 I think, and that is really pretty low. What are they going to do if it goes up next time to .51? They will say "that was the bottom", and rally the hell out of the SOX. Looks to me like they are holding up the SOX until the book to bill or earnings goes up a little. They have been going sideways for months and months, and I think they can keep doing it for a few months more, until one day you will see a .51 or so book to bill, and then they will squeeze the bears with it. But I don't know how much longer they can hold up this market with such crummy book to bill #'s as we have seen and earnings. They are doing a better job of holding this market up then I ever thought they could. I think it's all the greenspan money coming in and now mutual funds too. There is so much liquidity being injected it's hard to bring this market down. The only way to trade is by using stops at certain levels like you suggest, and that will work, but I'm tired of getting stopped out in this dead volume sideways market. This kind of market is what whittles a traders account to zero.