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Technology Stocks : FORE Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Paul A who wrote (7172)	1/16/1998 10:48:00 AM
From: Ed Frye	Read Replies (2) \| Respond to of 12559

Re: Paranoia. The market is always paranoid and particularly so right now. Investors seem to be pocketing gains more quickly than usual. It's as though the world is convinced we're locked in a trading range in '98 with more downside potential than upside. They are cashing in at the first signs of loss of momentum. For example, I assume a lot of traders are reversing their positions on FORE on a regular basis so as to profit in both directions. >>I have never been a big fan of TA because it leaves too much out of the picture.<< That's fine but how can you trade intraday if you don't use some form of TA? Certainly fundamentals don't change from moment to moment. Call it what you want but you have to be using some form of TA to guide your decision-making. You mentioned support and that is a TA concept. I'm as FA as anyone but I look at TA as best I can along the way. Anyway, people will believe what they believe, and the point here isn't to debate the merits of FA v TA. >>We had a higher high today and a higher low. Not bad. Todays action was very predictable and it shows me we are very paranoid and thats all there is to it.<< Recent action may be very predictable as you say but the predictability is that we can't sustain an uptrend. It is true that this volatile sideways pattern provides opportunities for nimble day traders but the vast majority of us here probably don't fall into that category or invest that way. I have been managing my position in FORE expecting a breakthrough to 19+ so I have not been cashing in on this 16+ to 17+ treadmill we are on. In retrospect, it is obvious that I have been wrong. >>I'm very bullish right now.<< Your definition of bullish is quite different from mine. As you suggested, paranoia is contributing to trading range climate we are experiencing but this is hardly bullish. Although I congratulate both you and Igor for being able to capitalize on the current lack of trend, those of us who are truly bullish on FORE are a bit frustrated.