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I did not believe it when it was initially posted and I am prone not to
agree now.
I went long certain stocks and Mutual Funds with full margin in March 03.
At that time the posts sounded like the sky was falling. I reverted to
cash when the 50 day moving average was threatened about 3 months ago. So
I left some on the table.
I went back last month [Dow 9400] fully invested without margin shooting
for Dow 10,000. At that time the posts sounded like the sky was going to
fall again.
I am looking for Dow 11,000 by March 04...but will be quick to pull the
parachute strings if the breadth and MA's give signs of weakness.
I like to keep investing somple and uncomplicated and by hand vs
mechanical projection.
The rise of the Bulletin Board stocks, the return of so called hot
daytraders, as well as the return of hot new issues are some of my first
early warning signals.
I still play many CANSLIM stock that has risen at least 1% above its 52
week high with 150% of its 50 day trading volume.
I swing trade value stocks that have been trading in a 10% range for 4
weeks. These can be folowed at http://www.investright.com if you want to
do the work...plus its free and guru independent.
Just wanted to interject an opposing point of view for discussion.
Sincerely,
John
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