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Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: Prophet who wrote (10478)	8/4/2002 1:52:34 PM
From: Dave Gore	Respond to of 16631

<Interesting enough, plays such as LOW, COST, HD, and WMT are already very close to the low point of two weeks ago. Therefore, those play will offer the best chances at the end of the day.> That's an interesting statement. I did play WMT for 3/4 point on your tip, but not sure the stocks that drop the most are always the best to buy if you expect a little bit of short covering (which we both did and got). The fact that they were down almost to DOW 7600 levels indicates that they were relatively weaker than the others. But anyway, I agree with being careful here. Traders are ready to sell enmasse if the Dow breaks critical support. They know where the DOW was and a big breakdown here would be very negative for the Markets. That said, the jury is still out.