John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (911)	4/12/2000 8:33:00 AM
From: robert b furman	Read Replies (1) of 33421

Well the last two days gave him his 400 down finish.I think there are some very touchy nerves out there in the biotech and telecom world.My semi equipment stocks fell hard last tuesday and have firmed somewhat.I can't help but think a very scary retest is due,but I never expected the bounce to be as strong as what it was on friday. It may be that a retest won't reach as low as tuesday's fall and we begin a higher low staircase type of climb. Time is getting short, as Nvls will announce earnings on the 17th and they are expected to be stellar JMHO. Semi equip's amat,klac Nvls are getting hyped daily on CNBC - it must be some kind of a top. I'm out in cash with 85% of my equity.I am playing with 15 % - hoping to enjoy the whiplash and wild emotions of what I'm hoping becomes a parabolic top complete, with feeding frenzy at a momentum top.I really want to give some mullet my ridiculously priced stock at maybe one half the wild valuations the nut stocks have enjoyed over the last 2-3 years. I visualize this gen x'r saying " I'm not worried I'm in it for the long run" as he looks at the overpriced empty bag I just handed him - nasty to say but maybe his head will fit in it.<g> It's a little ugly - but that's how greed usually ends all things that just get "TOO GOOD TO BE TRUE". Those who have the wisdom to recognise this will be forever much wealthier. In addition, I can't help but salivate on the awareness that successfully shorting this historical run up represents the NEXT GREAT WEALTH DEFINING MOMENT in my immediate future.Buying at a bottom can make you rich and it is easy to do.Shorting at the top I find is just plain harder to do.It sure can make you rich quick - how that escapes these momo investors is almost unbelievable. JMHO Bob

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