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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (8568)	9/24/2001 8:56:13 PM
From: chowder	Read Replies (2) \| Respond to of 23153

Gottfried, I looked at the weekly chart earlier, but I didn't look at the monthly. Thanks for bringing it to my attention. The monthly chart indicates the NASDAQ reached a level of major support, going all the way back to late 1998, another indicator that today's rally was due. The next level of support is down around the 1200 range on the monthly chart. stockcharts.com[h,a]maclyymy[pb30][vc60][iUb14!La12,26,9!Lf!Lc20!Ld20] Perhaps the charts have had enough time to work themselves out to the point we can depend on them again. We shall see. My USPIX took a beating today. I knew it would, but you can't trade funds the way you can stocks. So you have to give back a little of what you gained, and wait for the trend to correct itself, as I think it will, to the downside. There were a couple of stocks I wanted to short last week and couldn't. I saw some stocks drop over 2 bucks a share before they got an uptick. They should do away with the uptick rule. (That should fire someone up!) I think January is a good target for significant long term positions. It's hard to think long term in a bear market though. The last 10 years have spoiled most investors into thinking long term buy and hold because the market always corrects. A good strategy in a bull market as you don't have huge losses before the market corrects. I have friends who bought CSCO at its peak, GX too. It'll take years for them to break even, if in fact they do. I don't want to think too long term until we've established the fact that we're in a bull market again. Meanwhile, short and intermediate term trades are the way to go, I think. Anyone understand the logic in a two billion dollar margin call? If I had two billion dollars, I'd live off the interest I earned in Treasuries and say the hell with it. Two billion dollars isn't enough to live comfortably with? Now that's being greedy! dabum