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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (22738)	8/2/2001 9:29:16 PM
From: Greg Jung	Read Replies (1) \| Respond to of 30051

Zeev you can stil be a bear but you only go long so that makes you merely "cautious". To those of us (me) who covered for losses the move is more convincing. Your quintet of stocks all have up-wards looking charts, rounded bottom, breaking old near-term highs made in the May-July drawdown, we are no longer in the constricting wedge pattern and the breakout is to the up. BRCM is gonna hold the 45.x level I think, then it'll defend 47, etc. pushing to 49. But then again it ought to go to 32 or lower so I can't touch it long. Whether or not the market deserves to go up, it doesn't matter. "Price Knows Everything" It knows where the money is going .vs. the supply of stock for sale, yesterday's declinbe of the dow .vs. Naz+40 money may be preferentially shifting into tech, there may be a "this is as cheap as it is gonna get" thesis to all this as advocated by ML upgrade. Anyway so I jettisioned my rydex venture play (this fund, RYVNX, and the profunds variant have only 1% YTD preformance despite NDX dropping so much, so return trips are costly). and bought some JNPR I think we continue for a while at least.