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>I am looking for a long side entry here off the low (if I am lucky) to take
advantage of first of the month seasonality.
Isn't seasonality also what everyone expects to make the market bounce?
In April we heard talk like its oversold - and the indices tanked 15% off of
those oversolds anyway.
If they couldn't do it at the textbook 90 on the queenies, why would they
want to go home long over the weekend?
If the Mercury turn can't kick it in, I wonder what will....
The generals haven't been shot yet - and my generals are INTC CSCO SUNW EMC
AIG C AXP SEBL ORCL JNJ PEP PFE. For position traders, these are worthless
rotational moves at the cusp of the trend.
If they also want to make good for NOK (the average big gun growth fund lost
4% yesterday alone) I would think right now the prevailing thought is, shoot
first, ask q's later - or "get small get lean get into cash"....every once
in a while comes a monthend where reverse seasonality kicks in. Aug 31 1998
or 99 comes to mind - the Dow -554 day which took Ron Insana down to the
floor.
Just being contrarian to popular thought, no criticism intended.
Gitanshu
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