Piffer OT - And Other Assorted Nuts Message Board

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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts

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To: Jorj X Mckie who wrote (46952)	7/27/2000 1:20:36 AM
From: Junkyardawg	Read Replies (2) of 63513

Here is my theory of the past few days. I have a theory and we will find out tomorrow if I am right or not. I think with JDSU (did you notice the huge volume on JDSU today....wow!!) going into the S&P and it being such a large cap stock that the S&P was shorted. In other words funds had to sell some S&P stocks and buy JDSU to adjust their S&P portfolios. Of course the market knows this so they short the S&P. Most traders use the S&P as a guide when trading the Nasdaq(I don't). This of course caused more selling and more shorting for the past three days. If I am right we should have a huge day tomorrow and probably the rest of the week. Of course we are getting the ECI numbers tomorrow and if they are very bad then this will probably blow out all theories and we will have a rash of selling. I have another theory on that though but most disagree with me. I am of the opinion that if the ECI numbers are bad it will not matter because it is already factored in the market. Also, most "experts" are of the opinion that the fed will only raise rates once more this year and that would only be a 25 point raise. With that in mind, the ECI numbers should be non-issue unless they turn out very good and then we would have more bullishness in the market. Tomorrow's ECI numbers will include (for the first time) bonus paid by employee's. I have no idea how this will effect the ECI number's nor do I think anyone else has any idea which is part of the uncertainty going into tomorrow. Personally, I think it is stupid to look at the ECI numbers because I don't see anything wrong with people making more money. AFter all that is what this country is all about. Oh well we will find out about 2 hours after the opening bell tomorrow if I am right or not.

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