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Monday, March 22, 2004

Feels like a bottom...

I was watching the Daq approach and submarine the 1900 level when a voice inside my head told me, "If it hovers just below 1900 for awhile, then it'll pop back up." Sho'nuff, that's exactly what happened. I think we were shaking the technical traders out. I'm sure there were a few that decided to go short when the index fell below 1900 -- bad decision. The news is at such a negative crescendo that I think it's a good time to pick up positions. Tech continues to get hammered as fundamentals are in short supply. However, growth is still strong for many of my favored stocks and that means that fundamentals will follow.

On another note, CNBC is a bunch of freakin' idiots. How do these people get paid for the B.S. that spews forth? They continually demonstrate a lack of basic understanding of the market. I hate journalists who try to be analysts; it always ends up badly.

Anyways, look for a good day tomorrow. Could be interesting...

1 Comments:

At 9:01 AM, Anonymous QUALITY STOCKS UNDER 5 DOLLARS said...

Great tech stocks.

 

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