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

To: Timetobuy who wrote (81413)	8/15/2001 4:45:17 PM
From: t2	Read Replies (2) \| Respond to of 99985

This Nasdaq still continues to look really gloomy. So many day trading firms has been closing up lately. Trading volume continues to drop. It appears that individuals may have finally lost their appetite for stocks. Things do not look good for technology near term. I guess it is not a "Timetobuy". <g> oil/gas and gold stocks doing well. I am sticking to the mid cap natural gas stock strategy for position trades but tech is only for daytrading...maybe not a short ahead of Greenspan next week. Starting to believe that we are heading for a retest. There is nothing to give this market a bounce---money flows will not get to levels of 1998 and 1999. I am not gutsy enough to short at current levels but am patient to wait for the tech buying opportunity. We need some big buyback announcements from techs and they are not coming yet....at least to offset that insider selling in techs. That may be lift the market along with a weak dollar. I am still taking a wait and see approach. The table shows encouraging signs but I want to see the end of August stats before drawing any conclusions. insider.thomsonfn.com Janus STILL trimming tech holdings in a big way. Could also be positive if one takes a longer term view, if this is combined a rebound in business for technology. thestreet.com BTW--I disagree with you on Microsoft. If tech stays weak, MSFT will make more business gains just as they did when the dot.com bubble burst. Next up could be SUNW and ORCL; I believe that MSFT and INTEL are going to continue making life difficult for these companies...might consider a Long MSFT/INTC combined with Short ORCL/SUNW strategy. Want to see SUNW/ORCL bounce a bit before trying it. I see MSFT and INTEL as somewhat safer plays compared to the Nasdaq as a whole...of course they are not immune if there is a severe drop.