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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.43

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To: Terry Whitman who wrote (36988)	1/7/2000 8:43:00 PM
From: KM	Read Replies (2) of 99985

I know you saw all the dancing bears last night. They didn't see it coming. Yesterday afternoon, INCA gave everyone on earth who was short a tech stock the chance of a lifetime to cover with a big profit. Within five minutes of the Lucent preannouncement, there were big fat INCA offers on everything from Cisco to Ciena five points down and much more in some cases. YHOO, JDSU, QCOM, SUNW, CSCO (that was the one I went for), all offered way way down. They even offered 5000 shares down a point on a pathetic little stock I have which is near its 52 week low for heaven's sake, and then, this morning, were bidding for it 3/4 higher. Didn't see many takers; in fact, I saw daytraders shorting alongside them. Unbelieveable. My little pet theory is that they'll bring this sucker back up near the old highs to suck in a little more public money, then tank it after option expiration.

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