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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (5797)	3/8/1998 8:24:00 PM
From: LastShadow	Respond to of 120523

Market Assessment: All the major and minor indices are moving horizontally and leaning down. Friday's numbers were scary - fumore than 80% of my total stock database closed up. My tickers generally run about 50/50, and when that number climbs it generally portends a correction. I didn't chekc the asian markets before writing this, as with their troubles and the flurry of trading going on, I don't think it will influence it too much. On top of that, I checked the performance of the mutuals funds I own or follow, and the better ones (ie - not the market indicators) showed a stabilization while the others were either up or down. This implies that the better/smarter ones have moved thier riskier stocks to cash/bonds or less volatile sectors, and the others were just doing it the previous day (hence they were down) or were doing it that day or hadn't moved the funds yet (and thus were up with the market). Remember that individuals do very little of the overall trading on the markets - they are driven largely by funds/brokerages/institutional buyers - the the tune of about 80% in some cases. While stocks may vary due to traders or point buys, the market in general is driven by larger forces. Slower ones as well. So, still bearish on my part. However, there are thousands of stocks out there, and hopefully my watch lists, like Jenna's, will reflect safer sctors to trade in. I don't think the market will tank like it did in October, and from what I think I am seeing is that it may go down in waves over several weeks. That doesn't mean we wont have some big down days, but it does mean that the days they are down will be opportune times to buy if it does go that route. Telling when a down or up wave is over on the market indices is different from looking at a specific stock. Not that I think I will be any more or less accurate in the forecast...just different reasoning. lastshadow ...and if I have to remind you all to set stops one more time I am going to bite someone...