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Politics : Ask Michael Burke

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To: pater tenebrarum who wrote (69796)	10/29/1999 5:52:00 PM
From: Knighty Tin	Read Replies (6) of 132070

hb, I think most of the short interest you see are hedgers. Folks who sell short for a living are becoming an endangered species, and even those who short are mostly net long by now. The main thing that makes me think this rally doesn't have legs is that it is running against the economics. The techs are in deep kimshee and are announcing worse to come, and they have been the market leaders. Yes, the blowoff could continue through Xmas, but I don't think it would take much to send the Dow off 3000-4000 points in a short period of time. The dollar and bond vigilantes won't love this new margined market for long. Since I use a 90/10 system, I err more to the side of being in early than missing the crash. The start is usually the bloodiest part.

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