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Hold
onto your hat....our beloved Alan Abelson in this week's Barron's indicates
recent Gallop polls indicate a high, high level of optimism and
bullishness....almost near that of the Sept 2000 "top" !!!
You
know what that means. We may see a short-term bump-up here, but doubtful it'll
last.
<BLOCKQUOTE
style="BORDER-LEFT: #0000ff 2px solid; MARGIN-LEFT: 5px; PADDING-LEFT: 5px">
<FONT face="Times New Roman"
size=2>-----Original Message-----From: Ray Raffurty
[mailto:r.raffurty@xxxxxxxx]Sent: Friday, November 16, 2001 12:36
PMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: [RT] 9-11
didn't exist
I'm sure much of the rally has been short
covering. But, I also feel smart money is coming in on the long
side. Anyone who recognized the bubble of 2000 and went to cash or short
is in an excellent position to get long now. I believe most of the
"weak hands" have folded. Many of my acquaintances who know
I follow the markets closely have recently confided in me that they have
"finally given up on XYZ" (add your favorite here).
To me this is almost as good a sign as having a
bear on the cover of Time magazine.
Good luck and good trading,
Ray Raffurty
<BLOCKQUOTE dir=ltr
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Ira Tunik
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Friday, November 16, 2001 10:25
AM
Subject: Re: [RT] 9-11 didn't
exist
How much of this rally has been to cover short calls?
That has been the latest get rich scheme since selling puts went out of
favor. If you believe that the economy is in the throws or a
recessionary spiral, then this is nothing more then a bear market
rally. If you believe that because we have had limited success in the
war and that is the reason for elation, you could be vary
disappointed. Take a look at the the top 50 volume leaders in the
Nasdaq and the the NYSE and look at the PE ratios. If you feel that
these companies can grow at those rates, then there is hope that this rally
is for real. If you are looking out 6 months and thinking that all
will better then, that could be true, but will these companies increase
their earnings and growth rates to overcome their current pricing? I
don't have the answers to these questions and I don't believe that anyone
else does. This is one of the reasons that I trade technically.
I just follow the money. Not very glamourous but very profitable. Have
a good week end. Ira.
Lee Morris wrote:
<FONT
face=Arial>How can you say that is the
limit of downside, my feeling was had it been terror that the markets
would have continued to fall hard. The 200 pt level was the knee jerk to
determine what had happened.
<FONT
size=-1>-----Original Message----- <FONT
face=Tahoma>From: John Nelson [<A
href="mailto:trader@xxxxxxxxxxxxxxx";>mailto:trader@xxxxxxxxxxxxxxx]
Sent: Friday, November 16,
2001 1:22 AM <FONT
size=-1>To: realtraders@xxxxxxxxxxxxxxx <FONT
face=Tahoma>Subject: Re: [RT] 9-11 didn't
exist
Smart traders will take a cue from the market's reaction...
down almost 200 Dow points in the morning on news that
another jet liner had crashed. Expect similar or worse in
the future when there is another terrorist act.
This is probably your level of downside risk.
-- John
On Tue, 13 Nov 2001, Daniel Goncharoff wrote:
> Ray > > The market sank
yesterday because a plane crashed. There was fear that >
it was another terrorist attack. Doesn't this disprove the notion
that > 9/11 can be ignored? >
> Regards > DanG
--
__________________________________________________________
John T.
Nelson
| John's Trading Journal
trader@xxxxxxxxxxxxxxx | <A
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