|
PureBytes Links
Trading Reference Links
|
GDP is in negative territory. My suspician is that CPI and labour numbers
will suck once released later this week. Lots of reasons to stay out of
this market (or at least not be long in the volatile stuff) and turn OFF
CNBC.
Also take a look at the weekly chart of both the Dow and Nasdaq. Those
charts look pretty bad IMHO.
And yet Louis Ruikeyhser (whatever) continues to glibly reassure the
American
public that everything is just fine. I wonder how much more pounding will
convince the public that its time to throw in the towel?
- John
> -----Original Message-----
> From: M. Simms [mailto:prosys@xxxxxxxxxxxxxxxx]
> Sent: Wednesday, October 31, 2001 12:33 PM
> To: RealtradersList
> Subject: [RT] Anyone believe in old Bernie here ?
>
>
> Bernie Schaeffer remains skeptical.
> Bernie Schaeffer of Schaeffer's Investment Research injects a healthy dose
> of skepticism into a market that has projected surprising and somewhat
> puzzling optimism of late. Schaeffer cautions investors that the rally off
> the Sept. 21 lows -- while nothing short of spectacular --
> appears to be yet
> another violent upswing within a bear market. He points out, in fact, that
> the market has consistently displayed the capability to rally during
> earnings reporting periods. "The market in 2001 has exhibited a remarkable
> tendency to rally during earnings reporting months while
> otherwise spending
> its time in serious declining mode," the strategist said. He added that
> stocks tend to reach some kind of extreme ahead of earnings during a bear
> market and that any reality short of total disaster is thus received
> positively by investors. "But once we emerge from the earnings reporting
> months, the focus moves back to earnings growth, and this has been and
> remains an overriding negative with no relief in sight. If this pattern
> holds true for the rest of this year, then November and December could get
> pretty ugly for the market," Schaeffer said.
>
>
>
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Protect your servers with 128-bit SSL encryption! Grab your copy of VeriSign's FREE guide: "Securing Your Website for business" Get it Now!
http://us.click.yahoo.com/M.WTOC/m1FDAA/cosFAA/zMEolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|