Get Ready To Pull The Trigger

• March 4, 2004
• Tim Truebenbach

The market was mixed in
today’s trading along with below-average
volume. So far there isn’t
much reason to do a whole lot in the way of trading right now.

The market, led by the Nasdaq, has pulled off its
highs in a wave of distribution while leading
growth stocks are mixed. Yahoo!

(
YHOO |
Quote |
Chart |
News |
PowerRating) is firmly entrenched below its 50-day moving
average while many of the Chinese Internets have
been displaying strength; as seen in
Netease
(
NTES |
Quote |
Chart |
News |
PowerRating).

I believe it’s a
great time to take a wait-and-see attitude. I may be saying
not to trade, but keeping a close eye and getting ready to pull the trigger
isn’t a bad move either.
Home in on sectors that are acting well and build a strong watch list. Personally,
I am waiting for some signs of accumulation to appear, before doing a whole lot.
I do still believe we are seeing a correction amidst a longer-term
uptrend.

Have a great weekend!

Tim
Truebenbach

timt@tradingmarkets.com