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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (40037)	8/8/2001 11:25:56 AM
From: stockman_scott	Respond to of 65232

from yesterday's IBD... It makes a good case for high cash levels and patience in the current market environment. ____________________________________________ "While last week’s brokerage-inspired rally didn’t inspire a lot of confidence, Monday’s low-volume sell-off didn’t generate much fear. The market continues to grind sideways, no better off than it was in mid-April. It takes patience and discipline to sit through the doldrums. Trading here and there to divert yourself will just erode your portfolio. If the market isn’t acting right and few stocks are working, stay on the sidelines. It’s better to study your past trades and update a watch list of promising stocks. Sure, scores of former leaders have been decimated. But six Fed rate cuts, with at least one more to come, eventually will turn the market. In the meantime, investors slink away in boredom and frustration. You have to go back to Dec. 30, 1999, to find a non-holiday session when Nasdaq volume was lower than Monday’s level. The market is wearing people out, which is precisely the time it pays to be alert."