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Strategies & Market Trends : The Amateur Traders Corner -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hua who wrote (11053)	6/21/2001 7:46:11 PM
From: Paul A	Read Replies (1) \| Respond to of 19633

Tom, Im shocked by Microns report.. It was quite a bit worse then I expected but seeing this thing trade at 35 1/2 as we speak fills my heart with some joy.. After the market makes its move in the next 2-3 days, Im stepping away for a long needed vacation from all of this.. Ill be sitting out the fed meeting along with possibly the entire month of July.. The market has been very very good to me this year and its time to spend some of the money and get other issues in order (such as getting a real job as far away from the semiconductor industry as possible) Right now, in my opinion- the market is just one huge casino.. more so then it normally is :) and to try and navigate your way thru things here is getting increasingly difficult.. Everyone wants a bottom, and despite the barrage of negative after negative report, the street keeps trying desperately to say 'this is it.. the bottom'.. Im simply exhausted from the action in the nasdaq the last few weeks, and consider some of my gains very lucky.. not a shred of skill, just luck basially at this point.. So on that note- good luck everyone! Im sure ill be floating around, but just not doing my usual babble.. With the MU report and the book/bill (which you were right about, but your explanation made more sense then my prediction that it would be much worse) - the bad news is out there, its not priced into the semiconductor stocks, and wether or not the street decides to ignore it will pretty much be decided tomorrow by 4pm.. Most semis are now trading at their lows reached this morning.. I fully expect them to collapse tomorrow, and still think we get some violent selling before the fed gang gets together.. At this point, I realize this is like flipping a coin.. My money is on the downside, and we will know by tomorrow.. but im taking comfort in the fact that alot of us here saw this gloom and doom long before the market did.. The fact that it wasnt priced in was the only part of the equation that keeps troubling me :) Its going to take a LONG time in 'wallstreet time' for this sector to recover.. People just dont get it.. either that or the institutions are painting things so they can get the hell out of the way and put a real bottom in.. I just dont know! off for a beer I go!