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 (1294)	4/25/2000 8:26:00 PM
From: ekn	Read Replies (3) of 33421

the nasdaq needs to close above 3851 IMO to enter a new bullish phase. as we know there are several potential stumbling blocks along the way. i took profits at the end of the day on aapl and amd and added another 750 shares short on csco [that was added to my 800 @ 65] as i feel strongly this issue will breakdown near term. when everyone is giddy i sell and everyone is giddy! i still see nasdaq 2700-2900 by e-->q2 and csco leading they way back to 35--40 range. i remain convinced that there will be a 50 point basis hike and 1 more solid economic bump in the road to turn sentiment. also, nasdaq lost it's leader msft. i don't see it <71 that's 250 billion in cap and i choose to believe csco will noy break resistance @ 70. These stocks lead the Nasdaq. telecoms will get hit tomorrow and there should be some profits taken out of chips, biotech, while internet and ecommerce should continue upwards. if the nasdaq does not follow through CONVININGLY and i mean closing above 3851, and we get hit by bad news Thursday, I will turn 50% of my portfolio short 50% cash cheErs!

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