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

To: kodiak_bull who wrote (10165)	11/2/2001 9:02:51 AM
From: jim_p	Read Replies (2) \| Respond to of 23153

KB, "You seem pretty bullish here, and I don't yet have that feeling. I'm willing to re-evaluate my point of view, but I'm just curious. Do you see this as the beginning of a real rally or simply a liquidity rally?" Good question. If I knew I wouldn't be here. I did sell 70% of my AMD yesterday at 11.25, and hope to buy it back in the 10's soon. My guess is the market trend is now up and the risk reward is with the longs. The odds are we will stay in a trading range for a short while. Take a look at the 18 days MA and 50 day MA on many of the market leaders in every sector. The 18 day is now crossing the 50 day which is an indicator used by many institutional investors to predict a turning point in the market/sector/stock trend. It is also a CYA point for investors who have a need to document their reasons for investing now. I suspect the SOX will see resistance at the 490 level, but if it breaks out I would not want to be out of the sector. Sell trading positions, but keep the long term positions. I do believe we are in a buy the dips and take profits on the strong rally's like we saw yesterday. I believe it will work as well in some sectors today as it worked with the OSX 2-3 years ago. Those were the days of 1000% gains for those who bought the dips on margin. If you bought the dip on AMD two days ago, you would be sitting on a 25% gain in two days. I would love to see a 200 point Dow or 50 point NAZ decline to load up again. At least for now, the market wants to go up and is ignoring bad news. JMHO, Jim