From: "John Smith" 
Newsgroups: uk.finance
Subject: Re: The U.S. market bottom, entry points
Date: Sun, 4 Apr 2004 18:07:03 +0100

Just read in the Sunday Times that the NASDAQ is running at an average of 80
times profit - isn't that, um, expensive?

"DaveTrends"  wrote in message
news:20040403200611.27990.00000632@mb-m12.aol.com...
>
>
> It seems ancient history now - the bottom and rise.  But it was just  7
days
> ago when the mandatory entry point occurred on a Thursday morning.  The
Nasdaq
> has climbed 8%, tech stocks - a couple times that, and slightly OOM calls,
> 100's of percent.  The general pattern of flats and jumps - giving a
blocky
> aspect - is classically bullish, along with the two outstanding single-day
> rises.
>
> But that's all hindsight.  Either 1. Right after the Nas bounced up off
the
> 1900 area the third time on Tuesday or 2.  It gapped up and rose on
Thursday,
> traders with a continuous Nasdaq chart in front of them and aware that the
Nas
> was -11% into its first big correction (a time of terrific potential)
entered
> the market with depressed tech stocks or options.
>
> Other traders and investors, taken up with the economy, the war, jobs
reports,
> and assorted other BS - which have almost nothing to do with overall
market
> movement, simply missed it.  But it's just what it looks like - probably a
> major bottom - almost too pretty of a pattern to really work - sharply
down,
> three days about flat, then sharply up - all in a wonderful market
background
> of correction.
>
> Whether it's still the bottom a year from now cannot be known, although
there
> is a good chance of it.  But there will be other bottoms that offer large
gains
> in that time - for those that remain basically bullish, stay aware and
> recognize the entry points, and settle with repeated 'modest' gains, sans
> losses.
>
>
> New Breed of Stock Trader
>
> http://members.aol.com/davetrends
>
>
>