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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 75.60

-0.6%

3:59 PM EST

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To: chic_hearne who wrote (43178)	11/8/2000 8:08:21 PM
From: Monty Lenard	of 77400

chic, as I think I had told you a while back I have been buying some of the old eco stocks no one wanted anymore like IP, AA, DD etc. Well I sold ALL of them today for a nice profit but the charts look rough and these stocks won't hold this puppy this trip. The clowns who just watch the stocks don't realize is what is going on behind the scenes. Like the options. A while back I saw them ramping some and huge blocks of calls being sold into the ramp. That was a day or so before the last bloodbath. Well they were doing the same thing yesterday and day before. Really an eyeopener when you see it happening so I joined the crowd and sold some naked calls yesterday on MSFT, AMAT, and a couple of others. :-) I agree with you on the technical damage. The damage is being done from a mental standpoint. I am beginning to see some who always thought it could only go up finally realize the opposite can happen. Some of those people are selling into these rallies but not nearly enough of them. What would be neat would be if the small investor would wise up and leave the big boys holding the bag but that won't happen I am afraid. BTW, when you and I first I thought you were an idiot but I was dead wrong. You are a pretty sharp fellow and play it both directions. Our PM's has made me realize that. Hang in there pal. Monty

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