The sidelines or 1550

التسجيل
31 أغسطس 2001
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#1
one day you will say cash is king, so if you have it keep it in the sidelines for this day

one day you will say I wish I have some cash to buy this stock at this level, so if you have it keep it in the sidelines for this day

one day you will see nasdaq at around 1550, then you would say cash is king or I wish I have some cash to buy now

I think nasdaq will retreat to 1550 in the coming two weeks due to the following

lack of any catalysts in the coming several weeks

greenspan statements that "recovery difficult to predict" that is poor visibility

most companies warned for next quarter and for year 2002

INTC refused to give any guidance for 2002, this prove the poor visibility environment

political uncertainty

some stocks are overvalued again

watch the nasdaq to hit 1550 may be next wednesday
when the Fed's beige book is released "it is going to be full of bearish comments"

so think about the sidelines, but don't go away from your screen and watch the market very closely it may rally at any moment

I am in the sideline again but I might buy back my favorite stock GFF and JNJ next week
 
التسجيل
31 أغسطس 2001
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#2
I think today's market should tell you that we are near to the end of the bear market rally

today..buying was concentrated in the big cap companies but mid & small cap were not participating as strong as the big cap because investors are not sure about this rally

this is going to be another 4th of april bear trap...I still believe that nasdaq will hit 1550 soon

most analysts call this the dying cat bounce...so watch out
 
التسجيل
31 أغسطس 2001
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#3
look at this

J.P. Morgan's chief strategist Doug Cliggott isn't convinced the market saw its nadir in September

We don't believe we've seen the bottom in stock prices yet, so we would not add to equity portfolios. It's still too early in the economic contraction, [with] price-to-earnings too high to believe that the S&P 500 troughed in September. The current high P/E multiple means that there are still far too many people that think this is the bottom for it to really be the bottom," Cliggott told clients

He recommends maintaining an "overweight" position in the defensive consumer staples group while staying "underweight" in technology


From cbs.marketwatch.com
 
التسجيل
31 أغسطس 2001
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#4
people are selling the rally

people are looking for any reason to lock in their profits

no buying interest when nasdaq is around 1720 / 1730

nasdaq has formed double tops

nasdaq failed to close above the 50 day moving average

more signs confirming the bear trap, I think it is wise to remain in the sidelines
 
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