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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (79975)	7/11/2001 12:22:27 PM
From: oldirtybastard	Read Replies (3) \| Respond to of 99985

Is this optimistic? Maybe you and your buddy can spin it that way thetimes.co.uk

To: t2 who wrote (79975)	7/11/2001 1:00:50 PM
From: American Spirit	Read Replies (2) \| Respond to of 99985

Who said I'm optimistic? I just wouldn't sell now. Or short. Although I wish I had last week. We're in some sort of negative bottom-scraping phase now when as we've learned is the time to buy. But I don't blame buyers for waiting either. Down 5 days in a row. When it is overdone? With all the gloom the Naz is unchanged which may mean sellers are just done. What has me upset is oil stocks keep sinking even with low PE's and huge earnings. So they have been a bad hedge. And that I sold my VZ, UIS and AAPL which have held up well. Otherwise I see a lot of stocks underwater, oversold, whatever you want to call it. But what else is new in gloomy periods? Overselling leads to more overselling until there is a sharp pop-back. Just waiting for some leadership here. Any excuse to rally? Where will it come from? And I don't just mean political leadership though that would help too. Looks like Greenspan needs to continue being aggressive. Where is the summer rally people were predicting a few days ago? Not here yet. Maybe tomorrow or next week. We'll see. What does anyone know right now? Nothing. All you can do is boast or moan about trades already made, good or bad. But at some point someone's going to make some nice koney buying at these prices. That's my only point. And who can deny it? Just as who can deny we might go down more? Quien sabe? Let's hope YHOO and MOT have something at least neutral to say. Almost everything's priced for nothing but bad news now.