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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Earlie who wrote (164003)5/6/2002 8:25:38 AM
From: orkrious  Read Replies (1) of 436258
 
Too many fund managers looking for a chance to "distribute" for any rally to acquire legs.

It seems like most of the shorts covered earlie last week expecting a bounce while the longs realize they've been sold a bill of goods, especially in the semis, and they want out in the worst way. The semis have a long way to fall.

My guess is any bounce won't last more than a few hours and the semis continue down for quite a while. Without the semis, this market is going nowhere.
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