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Strategies & Market Trends : The New Economy and its Winners

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To: Jan Crawley who wrote (4291)	12/21/2000 4:03:28 AM
From: craig crawford	Read Replies (1) of 57684

Hi there Jan, nice to see you again. Our little SUNW didn't do too shabby yesterday eh? Up 1/2 on 100 million shares on a day the NDX down almost 8%. Here is some more interesting info for the bears to chew on. Remember bears, you have had a lot of fun and the greedy bulls needed to be taught a lesson. Don't overstay your welcome. There will definitely be higher prices to put out more shorts in the near future. Nasdaq down for 7th straight day. Nearly 2.8 billion shares traded on Nasdaq. 926 new lows on the Nasdaq. 5:1 decliners over advancers at the low of the day. Just after 3 PM at the start of the last downleg, 134 million shares up volume vs 2 billion shares of down volume. That's a ratio of 15:1 down volume over up volume. If that doesn't smack of capitulation I don't know what does. Also, everyone who thinks we can continue at this pace right up until Dec 31st because of tax loss selling might want to consider something. Fund managers run billions of dollars. If they want in a stock they cannot wait for the exact bottom to get long. The bottom in a stock sometimes lasts for a minute or so and whoosh it's up a few points. If all the fund managers tried to get long the same time they would have to pay up 5 points. So managers that have to buy huge dollar amounts start their buying a little early, even before they think a stock is done with the selling. December 31st being the last day of tax selling would be just too clean and neat. I say we bottom by the end of this week if not today. If every fund manager out there believed he could walk in Jan 2nd and put a buy order in and expect to get the lows he/she has another thing coming. Smart managers realize that they need to start their buying now, before everyone thinks tax loss selling is behind us and puts a buy order in. Look at YHOO for example. finance.yahoo.com Snapped back 10% off the nasty opening and never looked back. That was the low for the day. Closed down 6 cents.

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