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Good post. Are there any newbies
left? I would think most of them have been damaged beyond repair as a tyro
will never short.
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<FONT
color=#000000 size=3>I'm flat, but as a chicken, I wait until any sign of an up
market happens. I like to short much better than going long but I'm
satisfied we have done enough on the downside. Time for
patience.
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size=4>
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Jimmy not the
Greek
<FONT face=Tahoma
size=2>-----Original Message-----From: Bob
[mailto:bobskc@xxxxxxxxxxxx]Sent: Thursday, November 30, 2000 9:25
PMTo: realtraders@xxxxxxxxxxxSubject: Re: [RT] Re: Time
to buy????????????Excellent post. Success
doesn't come from technical issues alone and it doesn't come from
fundamentals alone. A case in point is that often the technical
aspects of investing point down because it's been going down and points of
support are violated but if this method is true, what happens when we hit
zero? I mean, God.. we should really go down from there!
:)) I have said on this list before that most technical forecasting
has things doing what they have been doing. Jimmy the Greek said in
1972 I believe, that "what is due to happen is what has been happening
until it doesn't happen any more". He was talking about betting on
sporting events rather than the markets but still ........I believe
that investors are wrestling with a problem of value right now. Are
they still willing to pay for PE's of 100? 200? 400? If not,
what? Historical values of 12-16 or have we decided that next year's
projected earnings are ok to use and in multiples of 30-50?Anyway,
for now, I would take note that the safe haven stocks fell late in the day
and fell hard. (MRK went from 96 to 91 as I recall). Buy on
close orders were strong for beaten down issues and continued into the
after market. I bought into the worst of it today. For anyone who
cares, I bought T this morning and the rest around 3PM. .. WCOM,
LRCX, IOM and RRC .. already held C and TXU. I may
sell C soon ... I see way too many portfolio managers who say they
love it. :))Just as the bears tell everyone that you can't
just buy anything and make money for long, you can't short just anything
and make money forever either. I hope we enter into at least a
tradable box now and this hard fall in the nas is over because if it keeps
up, we're going to drive out the newbies and have to pick on each
other. heh..Hope you all have a great day tomorrow in the
markets and a wonderful weekend,BobAt 02:48 PM 11/30/2000 -0500,
you wrote:>>>>Aside technical
indicators,fundamental indicators,ew,astrology ,gann, >fibo.etc., and
putting personal experience in the forefront.Let's get >some
input based soley on experience since I think that this election
>fiasco is throwing a monkey wrench in most indicators.>Is this
a buying opportunity that some time from now we will look upon as >a
coulda, woulda,shouda ??? In my own past experience almost every time
>things looked as dismal as they do now it turned out to be a buying
>opportunity.>Let's hear from some heavyweights (and others).As
a technician, I know it >is hard to put technicals aside. Let's try ,we
will be able to hear >opinions without having to justify it with an
indicator.>Dom>>>>eGroups
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