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Strategies & Market Trends : Sharck Soup
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To: Sharck who wrote (10172)2/26/2001 10:56:57 AM
From: DlphcOracl  Read Replies (1) of 37746
 
Sharck: Sold all techs into opening NASDAQ gap. When I realized Friday PM that the NASDAQ "rebound" was due to Wayne Angell's idiotic statement that their is "60% chance" AG may cut rates before 3/20 FOMC, I was ROFLMAO. Why not flip a coin? In short (no pun intended), nothing has changed. Analysts continue onslaught of tech downgrades, chip sector under renewed pressure, NASDAQ goes lower.

P.S. The research note from SSB's Jonathan Joseph that Intel may cut capex spending from 7.5 billion to 6.5 billion is (IMHO) important, boding ill for all chip equipment stocks. He is one of the few analysts who is ahead of the curve and was the analyst who predicted the chip sector collapse last summer, well ahead of anyone.
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