Forum Archive Index - April 2001

[jesse <johne777@hotmail.com>]

Hi Peter
if you look at Nasdaq charts youll see this run is mostly down to
earnings season. Jan 3 Comp was intraday low at 2254, high at 2898 24/1,
for a 28% gain. Earnings done, it took 'till 23/2 to retest 2250 area,
then death.
April 4 'twas 1619 intraday low, now 1961, 21% gain. Maybe some upside
to go, might want to see if anything looks different over 2000 again.
Next week is the biggy for earnings, so might peak then....dont really
care for the exact number myself..just the trend.
Its amazing how many idiots still drive this thing up....havent they
lost enough already? Still, it just sets it up for some nice shorts. I
havent been long in the Nasdaq since Jan. Starting to nibble at shorts
again. Semis are dead. Is this the same market that heard Cisco's CEO
come out just 2 or 3 weeks ago and say the rest of the year is written
off? Or Intels CEO saying it could be 18 months till a turnaround?
Psychology of this market is fickle, turns on a dime. Your
right...fundamentals havent changed, but then, who looks at them?
The firm that picked a recession in US later this year, think it was
ICG, came out Friday and reconfirmed that view. Thats one of the
problems with getting monthly economic data like US does...trends dont
move in straight lines, so the odd good piece of news is gobbled up and
bad stuff a memory. Next month its all doom again. Do people think
recessions happen 2 quarters after 5.6% annual GDP growth, or Nasdaq
going in a dead straight line from 5000 to wherever? Both are coming,
just give them time.  Wouldnt go holding your ADV's etc to long, get
ready for real trend, down, to continue post earnings.
cheers
j


----------------------------------------------------------------------------
http://www.sharechat.co.nz/          New Zealand's home for market investors
http://www.netbroker.co.nz/        Trade on Credit, Low Brokerage. Join now.
----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/forum.shtml.