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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: j g cordes who wrote (13598)	8/29/1998 11:41:00 PM
From: Jenna	Read Replies (1) \| Respond to of 120523

yes.. I was in Best Buy today and the Boca Raton Mall.. In Best Buy people were getting annoyed that all the cashiers weren't working faster. People were leaving with very big ticket items every couple of minutes. Same thing at BBBY. There was a huge sign saying something about "Back to College" and the parking lot was packed. I know boca is not exactly a sample cut of middle america but still even the 'discount' stores were packed. You have to remember here the weather now is like near the equator, so there are not many tourists. In Boca Raton mall at town center, they had 'valet parking' today. They don't usually have that until the season sets in around beginning of November. As you say stores like Champs, Foot Locker were packed. I just peeked into Bloomies, Saks and Lord & Taylor and everyone was being sprayed by the 'perfume girls' at the entrances. They looked harried as too many women were 'getting away' from them in the crowd. The throngs of people heading to the designer part of the store reminded me of the contrast of the pictures in the newspapers of the Russian people pushing their way through the crowds trying to get into the banks to take out their lost money. Note though the General Nutrition center was nearly empty as was the 'exercise equipment' store in the corner of the mall. All this looks good on the surface, but the market is trading on sentiment and fear now just as much as on facts. I got this as part of an e-mail from a friend who is professional trader (not a daytrader) who's been doing this successfully for 20 years. Here is part of what he wrote: ...The best position trade to be in is cash. I've noticed that even the very good companies, that I trade on a bounce play, if I don't exit the same day I may lose big the next day. Also, if you hold a position trade through the drop, it may not be one of the companies that bounce when we get a couple hundred point rally. Often new companies take the lead. However, having said that, there are many many good companies that have 30% plus growth, selling at half the market PE or less, that would be worth socking away in a long term portfolio.