Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Terry Whitman who wrote (6075)	5/9/2002 9:07:49 AM
From: Enigma	Read Replies (1) \| Respond to of 33421

How much of yesterday's action was momentum built on computer generated trade signals and therefore leading the unwary into a dangerous bear trap?

To: Terry Whitman who wrote (6075)	5/9/2002 11:20:26 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Hi Terry, you make some good points. I think we'll probably see a few more high profile bankruptcy reorganizations from companies such as WCOM etc. you now with WCOM's longer term bonds trading in the low 40's, that should mean an 85% chance of a Bankruptcy reorg. there are several other companies this will happen too. Also with the SEC investigating the Wall Street firms for double standards on stock advice has not fully played out. The IPO market is moribund and every time there is a secondary it seems to be throwing off more convertible debt that can then lock in a profit by shorting the underlying common stock of the same company. So I think we get more of the same over the next 6 months. We have not reached the selling capitulation phase of this current decline, imo. But the Big Cap sector of the market is late in falling and so some of the markets underpinning are improving. I'm looking for an unspectacular summer, stock performance wise. John