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Technology Stocks : JDS Uniphase (JDSU)
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To: MulhollandDrive who wrote (4229)1/10/2000 7:04:00 PM
From: t2  Read Replies (2) of 24042
 
The observations i made myself about last week's selloff were as follows--and the rally afterwards.

As soon as the selling started; the hedge funds must have also jumped in shorting the S and P and Nasdaq100 in addition to the mutual funds who were hedging themselves.

Now all those perrenial bears start showing up on TV. Put Ron into the equation with his comparisons of the Naz with Nikkei of years back. For the two days, there were a lot of bearish guests.
One thing i noticed on Friday was that the BULLS came back. I guess the bullish fund managers they were too busy buying on the dips to make TV appearances.<ggg>
I saw Graham Tanaka and another internet fund manager talking about the bargain hunting they had been doing during those down days. Tanaka talked about shaking the shares out of the weak hands.
I have a feeling many of the smart managers look for the usual suspects to show up on TV during the selloffs, intrepretting it as a buy signal. I admit i was a bit nervous. I took that nervousness in myself as a very bullish signal and therefore only added to my JDSU position.
THat strategy never fails.

The JDSU rally on Friday along with the afterhours quotes made me confident of a above 190 open with a above 200 close. I had hoped for 210 which we got only intraday. I put that in a post yesterday--sorry i don't mean to brag.

Today i feel the same way about it. The afterhours action is very positive and we should have a strong open tomorrow.

good luck
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