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Technology Stocks : JDS Uniphase (JDSU)
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To: SJS who wrote (8827)4/14/2000 4:23:00 PM
From: t2  Read Replies (2) of 24042
 
Steve, It was a rough day. Of course I had been trading, long and short; calls and puts. I had a good trading day but a lousy investing day and still not willing to commit to margin until at least until next week. It was just a traders' market. One could sense that the declines would continue right to the end. However, we did see some buying right at the end and I used that as sign for buying some of the good blue chip techs.

I think mutual funds had been joining the selling to raise cash for better opportunities and that is understandable. It has been a downward spiral assisted by funds raising cash and margin calls.

I am now betting on a flat market tomorrow. Ha Ha.
Monday should be a gain as the traditional pattern has been for a selloff. That was my logic in getting out of my short positions and back to long.

I think this was a washout that became apparent after the rally yesterday had failed.

You and Greg have been right for the last few days. Good call. Still looking for the reboud in the best stocks.
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