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Non-Tech : The WOLF PACK

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To: ChrisJP who wrote (1655)10/7/2000 4:45:14 PM
From: Boolish  Read Replies (1) of 1692
 
Hey Chris, good to see you stop by. Yup these markets have me in a real conundrum. I am too frightened to go long on the Nasdaq but lack the balls to short it...LOL. I think if the bleeding continues for much longer it could damage the Nasdaq more than anyone would have thought.

I own one Nasdaq stock right now....BIDS. Some Canadian firms (it also trades T.BII) are back covering this one as it is showing it can compete in the B2B sector...actually beating out some big boys for contracts because their technology is so superior. I own 10K shares and would still be on the buy if I saw any end in sight for this tech slump. I honestly feel in time it will have valuations similar to CMRC and ARBA...but I should warn my patience is my best investing quality. Whether it is warranted or not I think a November rally will undoubtedly come.

Waldo is back covering BIDS as well (a real bonus) because I trust his insight more than any analyst I have come across yet.

Still holding some V.MMI but must admit I used trailing stops for the first time and lost a significant amount of my position on the pull back from the last run to three. It was all .53 stock so life is good. I swore against stops for a while but for a CDNX issue MMI presents enough liquidity for them to be safe IMO. In other words it generally has acceptable support on the bid. I will be back on the buy soon most likely.

I also have a Vancouver software source (a very reliable one) telling me V.ICS and Onyx are buys. ONXS earnings out on 24 Oct.

Take care....
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