To: Clint E. who wrote (18072 ) 10/19/1998 1:32:00 AM From: space cadet Read Replies (2) | Respond to
Clint, you have always stressed being flexible and I think that is definitely your number one attribute. Getting too in love with a stock or a position or a forecast is the recipe for suicide usually, unless you lucked out and the stock you fell in love with was named dell or msft or csco. I just looked up Favors email and he is definitely beginning to hedge his bets. Gone completely is all mention of any figure below 7000. He doesn't admit he was wrong or anything- he just doesn't even bring it up. It's as if he never said it, when in actuality he mentioned his bearish prognosis for everyday for the past month till today. He is now stressing that the Dow is extremely overbought on the 5 day RSI indicator. I agree and I see, like Favors, a short term high on the 22 approximately. However I don't see us falling much after that, just maybe a couple hundred dow points, and then probably continuing this earnings related rally. Probably we rally as usual till dell's earnings, and then the market will reassess the situation in light of how earnings look next quarter. If I had to guess I would say we would trade in the 8000's for the next couple of months.
