VOLTAIRE'S PORCH-MODERATED Message Board

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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who wrote (30624)	2/7/2001 8:41:40 AM
From: r.edwards	of 65232

"The P-C ratio hit 140% at 1:00 p.m. and was 176% at the bell. Better, but needs to be higher as this indicator has been of zero help during this selloff. The Semis rose as some brave and gutsy soul expressed the opinion that DRAM pxs weren't going much lower – a growing belief in that view would spark a strong rally. Conclusion: You all know the news on CSCO, and as of 6:30 a.m., it is trading at 31 (ê 4), having been as low as 30. It’ s infecting its group, as losses are all over the place. Stock futures also point to a lower opening as a result of CSCO’ s action. The burning question of the day is whether the market can either isolate CSCO or, better yet, shake it off by day’ s end. That’ s a big job, and I wouldn’ t bet the ranch until it happens – if indeed it even does. The P-C ratio was the best close we’ ve seen in a while, and maybe the CSCO news will get the troops good and bearish." RJF

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