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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

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Nov 14 4:00 PM EST

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To: pater tenebrarum who wrote (53329)	6/8/2000 1:28:00 AM
From: American Spirit	Read Replies (1) of 99985

When the last of the bears capitulates that will be the time to sell. Until then bulls have reason to steam ahead here. Glad my limit sell orders never filled today because after hours prices stampeded past them. We haven't had our big profit-taking dip yet and I know we will, but that should quickly met by mass buying. So much cash on the sidelines with no excuse not to be back in this market. As for those who seek values, 2nd tier stocks which are still 60-70% off their highs (ESHR and FATb examples) if you want to be aggressive, value techs which have not moved much like CPQ, UIS, LU and COMS, Baby Bells and T, cable stocks, retailers like ANf which have nowhere to go but up, the special case LOR which should go up 1000% within a few years but sits at its low thanks to Globalstar perceptions, or just think like Warren Buffet and find values where you find them. I wouldn't touch metals. I would buy financials esp. on dips. The EGRP's of the world are comparatively cheap. QCOM could really move now if you're quick. Upcoming splits like AAPL. WFMI is a good buy. GTE the best safe bet of the telcos as it's merging into BEL then Verizon soon which will be the #1 wireless co in the US. I'd avoid MSFT and Linux unless you know what you're doing. Time to buy those was two weeks ago. If you've been holding back and have been left out of this rally with smart stock-picking you can still capitalize. Unless Greenspan comes in and shocks us with a bearish statement I think we're headed for Naz 4400 here at least. Only then would I consider shorting anything. We had have summer rallies in the past. Study them. May's plunge set us up for a strong one. I think we'll retrace at least 50% of what was lost in the past two months from those old unsustainable highs. Remember we lost 2000 points on the Naz and we've only gained 800 back. The next 400 could happen quick and be worth a lot of fast profits. I could be wrong of course but for those who don't see value anywhere I beg to differ.

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