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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Softechie who wrote (61380)	5/3/2002 2:41:57 PM
From: Softechie	Respond to of 99280

SAN Suckers will blow up soon enough...

To: Softechie who wrote (61380)	5/3/2002 2:44:26 PM
From: AD	Respond to of 99280

Nevertheless, we could easily get a very nice trading rally which carries the indices up 10% or more. investors are depressed, very depressedUpdated: 03-May-02 Brief Thoughts [BRIEFING.COM - Robert Walberg] Time once again for another brief look at a few key developments of interest... The Market Discouraged by today's insipid employment report, the major market averages are heading lower once again. Due to sharp declines in the tech and biotech sectors, the Nasdaq is pacing the retreat (-1.9%). Again, not an unfamiliar site. If the Nasdaq were to finish today's session in the red - and it will take a big closing rally to avoid that fate - the index will have run its streak to 11 losing sessions out of the past 13. Over this time frame, the tech-heavy index will have lost 11%. Meanwhile, the DJIA and S&P 500 have shed 3% and 5%. More alarming than the scope of the three-week decline is the depth of despair which has grown out of the downturn. Due to profit warnings from the likes of IBM (IBM), Nokia (NOK), Pfizer (PFE), Verizon (VZ) and Biogen (BGEN); cautionary guidance from one tech firm after another; endless hostilities overseas; a financial crisis in Argentina; and signs that the economic recovery is losing momentum; investors are depressed, very depressed. As such there is little to no buying interest - hence the one-way market headed south. Typically, when investor sentiment is skewed so far in one direction, the market will begin to act counter to the prevailing mood. In this case, that means we should see a bounce in the days to come. Briefing.com isn't suggesting the beginning of a major advance, mind you. There are still too many hurdles to overcome and insufficient visibility on the timing and scope of the long-awaited earnings recovery for the market to sustain a major advance. Nevertheless, we could easily get a very nice trading rally which carries the indices up 10% or more.