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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (3981)	8/2/2000 4:31:49 PM
From: Logain Ablar	Read Replies (1) of 30051

Hi Zeev: Well I would be 70% cash if I didn't purchase some KEM. Out of SNDK completely and 1/3 left of QLGC. QLGC will go tomorrow since it broke supports yesterday and today. Today was a nice reversal but still low volumn WSTL still have a 2/3 position. It should bounce I think the shorts are spreading FUD and investors are forgetting the recent signings with GTE, SBC, etc. Of course the stock is acting like they just lost a major account so another 3rd will go on any bounce. All in all a pretty good day in raising cash. NAZ still looks lousy and I can't wait till the NYSEBP comes out tonight. If its in O's KEM will go quickly too. My concern @ this juncture is the jobs report on Friday. If the #'s are strong (over 200k in private sector jobs) the market will sell off pretty strong. If they come in weak I still think we'll have plenty of time to pick the right stocks and participate in any rally. Better to preserve capital in case there is a sell off. Right now the odds favor a sell off as we complete this bounce from last weeks sell off. Tim

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