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Thursday, October 27, 2005

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Market Setting up for a Strong Upside Spike 10-27-05

Good Morning

Traders are throwing out the baby with the bath water into this panicky sell off. The selling seems indiscriminate especially so in any stock with controversial news.

When the market sells off like this after bouncing off of the 50-day MA the likelihood is that a sharp move to the upside is imminent. We would not be at all surprised to see the NASDAQ (currently 2083) actually CLOSE POSITIVE TODAY. In light of this we are using this severe volatility to add more long exposure; specifically we started a position in TheStreet.com (TSCM).


Don't panic.

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posted by Kleiner Capital Management, LLC. | 11:01 AM



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