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Strategies & Market Trends : Moufassa's Lair -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (2184)	12/5/2001 10:17:44 AM
From: Tradelite	Read Replies (1) \| Respond to of 13660

Didn't want to post this before the market opened, because you bears would just get grumpy, but now that everything in it has come true already today....here it is.....a summary of what one trader expects for today. Received it in my email. Note the trading suggestions at the bottom. I'm long AMD for a trade. __________ <<This market is going higher. After three weeks of consolidations, the stock market finally showed me clear signs that it is going higher. Although the three major stock indices remain in their respective trading ranges, yesterday’s price action served as the confirmation of that imminent upside market breakout. Most of our short-term trading indicators have turned bullish, giving us “buy” signals. I expect the Nasdaq Composite Index, at a minimum, to head up to that psychological-important 2000 area. Our projection would actually put it up to the 2077 level. On the S&P 500 Index, I expect it to reach a minimum target of 1163, and more than likely, the 1200 level. For the blue chip Dow Jones, it appears 10,054, and 10,387 are the two likely targets. After several weeks of choppy trading, we believe we are finally on the right side of the market. We have doubled up on our long positions in both the S&P 500 and the Nasdaq 100. We plan to take profits on ½ position near the top end of the trading range, if the market does not break through to the upside on this try, and look to re-enter on a pullback while holding on the original positions for a ride to the eventual targets. Individual stock wise, I continue to like Advanced Micro Devices (AMD, $14.90) for a trade up to $17.50. The semiconductor holders’ trust (SMH, $44.07) still looks attractive as an intermediate-term trade/investment for those who wish to be more diversified within the semiconductor industry group. For the more adventuresome, Juniper Networks Inc. (JNPR, $25.24) seems to be headed up to $30 with an extended possibility of $35. As usual, these are not recommendations to you, nor are they solicitations to buy or sell securities. You should always consult your own financial advisors before implementing any ideas derived from this letter. Good luck, and good trading>>