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AMEN John: Add to that ..Maint calls that
were triggered Fri. will be due in the next couple of days and then don't forget
our friends the insiders aka specialists and marketmakers who are too
smart to not sell the positions they had to buy on the way down....
:-)
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
John
Nelson
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Monday, September 24, 2001 8:54
PM
Subject: RE: [RT] nasdaq/sp500
1) Seasonally,
we should be heading down right now due to tax loss selling and
rebalancing.
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face="Comic Sans MS">
2) 3Q earnings
will be coming soon and they WON'T be good (perhaps built into the price right
now).
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face="Comic Sans MS">
3) If GDP
numbers enter negative territory, which I'm sure they will, there will be
renewed recessionary fears (although frankly I think everyone has resigned
themselves to a major slowdown if not recession anyway - once again built
in).
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face="Comic Sans MS">
I wouldn't put
a lot of faith in P/C or other measures with respect to previous
markets. We are in a decidedly downward spiral and what worked in
yesterday's generally healthy markets, may not hold now.
So I
would look for a short-term rally followed by the potential for renewed
selling if bad news or economic numbers change the current
outlook.
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face="Comic Sans MS">
Just to be on
the prudent side.
<FONT
face="Comic Sans MS">
--
John
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