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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Poet who wrote (4192)	1/13/1999 10:15:00 AM
From: ayahuasca	Respond to of 56534

Hi Poet and thread. It's been a while since I posted here... To be sure today is a scary day. However I disagree that people should not initiate positions today. I think we are currently seeing the worst of the Brazil crisis, for us. The market wanted a reason to blow off and Brazil obliged. The sell off today, IMO, is all about psychology and not at all about any fundamental change in our economy. Right now the US is in VERY GOOD shape. The inflation numbers from last night bear that out to some degree and the earnings from INTC and YHOO show the strentgh of the techs. There has been quite a bull run recently and I think this sell-off is healthy. I just wish I knew it was coming. 8^/. As it happens I am fully invested in inet stocks so I have taken a beating today. But instead of panicing, which I have done in the past, I just watched. In fact, I thought the sell off was so overdone that I actually bought early this morning. I got more DCLK (my old fave) at 73 or so and last I looked it was over 88. I also bought some DRIV around 36 and it is up smartly from there If you have the stomach, today could be very profitable and it is days like these that allow us to get into some stocks that we have been looking at. It is not fear time. Unless I am missing something this is a glitch not a harbinger of a weakiening market. As such I have some confidence in buying these things. I hope everyone thnks about all this before making any rash decisions to sell or to buy. Think and dont follow the herd. Good luck one and all.