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Hi Bbgold! Can't argue with your logic or

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Caradoc Member Level  Friday, 11/01/02 09:07:45 PM
Re: bbgold post# 6406
Post # of 6436 
Hi Bbgold! Can't argue with your logic or the facts you point out. One thing for sure: the fact that this board is so inactive says pennies aren't where the action is. I'm still hoping to pick up GE below 25 (maybe on the eighth?) and am looking at other dividend producers like Verizon and Pepsi. (Pepsi over Coke because of the new products their Frito Lay division has introduced.) Can't quite bring myself to do Phillip Morris, but the boring blue chips will lead the bull whether it starts a week from today or whether -- as the charts seem to say -- about three weeks ago.

For two reasons, I figure there's still a good probability that what we're seeing is one last chance for buyers to get their hearts broken before things really move to higher plateaus:
1. This upward movement began when GE got some good news and IBM got the same a day or so after. Somehow, those two things don't sound like what ends a bear market especially since GE is back to flirting with the $25 level.
2. We still haven't seen anything that qualifies as "capitulation."

That said, if it turns out that I'm as wrong as I look to be today, I'll fearfully climb onboard either the 8th ot the 12th hoping that I missed a month of the new bull market and fearing that gruesome capitulation is a week or two in the future.

Ain't this fun?

Caradoc

PS: when pennies come back to life, it would be polite to take this discussion elsewhere.



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