FAT BOY FIBO`S DAY TRADERS

[fibo]

Just a few thoughts
DOW&NASDAQ
I think this rally will last until mid/end of OCT 2002.
medium-term targets for dow and nasdaq...dow 9000 and nasdaq 1400.
At these levels I will be careful buying and will seriously consider closing positions and taking a pause.
I think we could see a pull back.... even the end to this rally ,could see a massive pull back to nasdaq 900/1000 and dow
6700/7000.

If the market rallies beyond the above points then we are very likely to move to the second stage of the rally with nasdaq rising to 1575/1630 and 1700+....the dow moving to 10000+

having said the above...my main point of a turn would be mid oct 2002..this could present a serious stopping point for the indices
and a massive reversal could begin with the result of nasdaq
and the dow and footsie and techmark...not forgetting the S&P making lower lows than we have just witnessed,resulting in a crash scenario again


This can be avoided if companies begin to post better results at this stage and a more positive outlook.

There are a lot of little hills to climb but this is the way I see this scenario.

The best stocks to go for at this stage in my opinion as a longs(buys)
would be the beaten up tmts..although.. should be very careful with BT

My fav stocks for a long(buy) at the mo are colt telecom(ctm) and Barclays bank(barc)





cranium