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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: TWICK who wrote (23478)10/23/2002 7:23:43 PM
From: backman  Respond to of 26752
 
first sniff that a bottom was coming was the GOLD mania and the blow off bar on HGMCY on 9/9....and MSFT avoiding the late july lows during its last pullback...also, biotech has been generally strong of late...also, lately, when things sell-off on bad news, they dont stay sold off for long...so im just trying to not fight the momo on the shorts, and scalping longs for lunch money...i have no clue if this run ends tomorrow, or this is our seasonal rally that'll last until it's over
still, watching IBM behave like a momo stock with gaps galore in the chart has me nervous...i mean IBM is up 30%+ inside 2 weeks....that's usually a couple of good years for Big Blue



To: TWICK who wrote (23478)10/24/2002 4:50:39 AM
From: lee kramer  Read Replies (1) | Respond to of 26752
 
Hi TWICK: The bottom may well be in. But we won't know this for a while. Nor does it matter if a bottom has/will be made unless you trade long-term or trade the "market" long- term as many of the mutual funds do. "Bottom, bottom, where oh where [and when] is the bottom? is a silly game. Traders trade the strong charts on the long side and the weak charts from the short side.


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