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Technology Stocks : EMC How high can it go? -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (12829)	7/6/2001 11:29:58 PM
From: Jacob Snyder	Respond to of 17183

Yes, last year was painful. However, since I abandoned LTB&H in January, and became a happy range-trader, my portfolio has been steadily regaining my 2000 losses. As I've posted for months, I think we are still in a bear market, so I expect all rallies to fail eventually. So I cautiously buy the quality companies when they are hated, when sentiment is really ugly, and then quickly sell them as soon as we get a rally. I forget how many trips I've done with TXN, long and short, at least 5 times. Not betting the farm on any trade, but it adds up. No, I don't think there is any particular significance to Nas just below 2000. I think the odds are we have to retest, or break below, the April lows (around 1600), before the bull market resumes. We are currently rebounding from that April low, and the rebound looks like it's fading. I'm mainly watching individual stocks, and the SOX. Some sectors, like telco-equip, are going to take a loooooooong time to recover, 2003 is a reasonable guess, after about 100-150B$ in bad telco debt gets written off. Other sectors look like the bad news is out, and the charts are showing reassuring bottoming formations. Stocks in some sectors (like storage) are still setting new lows. Other sectors, like semi-equip, still haven't taken out the late-2000 lows. It's a trader's market, a stock-pickers market. Doing LTB&H in index funds is not the way to make money, not this year, probably not next year either.