Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Jon Cave who wrote (66936)	5/24/2000 1:43:00 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

fwiw - I just went long 45% of my Tech watch/want list... Call it a gut feeling... William JH's point is valid on how the Fed's hands are tied from multi-directions: 1. Hong Kong 2. The Euro - damage a stronger Dollar does 3. Recession - if they over do it 4. Presidential Election year - yes, it does matter 5. Banks stocks getting bought big - signaling the end of rate hikes is near 6. Pain is REAL here & some indiscrimate selling in the NAZ small caps - people getting called out right & left. ... while the NAZ is only down 20-25% from its recent April high's - some of these stocks here - good one's too; have been cut in half in just the last 10 days - 2 weeks. I am buying heavy today - old fav's just too damn cheap. Core plays of mine like VTSS CMGI (the only way I play the .coms) FDRY - some telcom/fibre optic plays and some small caps like my fav' PKTR - had to be a buyer here... I saw 10-20% snap backs on a few smaller cap NAZ fav's here of late - not missing being "in" to some degree here. But - I will now sit at 2650-2850 to add to a near fully invested NAZ/TECH position - not chasing any 10%ish moves - as hell, that's only a day of late... gotta be in to "some" degree on the tech fav's here imho - but, not "fully" in - as of course - we could go lower and its not so much where we should go fundamentally, or technically - but what worries me is we have weeks untill the Fed Metting for bad news to send us lower. Overall - I'll take a cost basis between here & NAZ 2500 for a LT play anyday.... had to start somewhere - and today DATEK is making stock after stock non-shortable off & on... shorts making final pushes ? We shall see... maybe there wont be a high volume final capitulation becuase there is no high volume of sellers left ? - lots of shorts taking out the final weak hands; maybe thats all thats left here - big losses on small volume in some of the small caps I bought today - some down 15-20% on small volume - gotta buy that.

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