Discussion in 'Trading' started by bbraunstein, Aug 14, 2002.
I'm not calling for a bottom by any means.....i'm just curious at what other traders think.
I'm generally a bear. Unfortunately I was about 5 years too early!
Anyone remember Alan Abelsons article on AMZN in like '97? However I am EXTREMELY BULLISH on tech. Which move would screw with more heads, NQ at 1250 by year end or 750? No-one is prepared for an up move of 30% that in the "big picture" still wouldn't add up to a can of beans.(i.e. 5000 again don't think so!!) Why the bull side
1 Rates aren't just low, they are as low as we will ever see in our lifetime.
2 Crap economy? Yea I agree, but VERY priced in.
3. High P/E's? Maybe, but compared to 2% rates, what kind of return from earnings is fair? PE's of 25 in this rate environment are cheap.
4. These companies have cash! MSFT, CSCO, even a dog like JNPR has 5bil banked. With 5bil JNPR which is off 97% from it's highs sure can bounce SEVERAL dollars.
This bottom may not last forever. Humanity may not last. But for now I'll let this stuff breathe.
i say that you should load up on BUD, THC, POT, KO and all the stocks that will be in high demand when the economy recovers- i'm heavily long in those stocks and bought puts as well- KACHINGO in a few months- i'll see you all in jamaica mon
All I know is this market is very frustrating, creeping slowly upward or taking off out of nowhere. For me that's the sign of a short/medium term bottom.
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