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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 72.10+1.4%Nov 10 3:59 PM EST

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To: Monty Lenard who wrote (44570)12/15/2000 8:41:49 AM
From: James F. Hopkins  Read Replies (1) of 77397
 
Well I'm not long very much but I'm looking to try
a few today or Monday. I expect like most runners
JNPR hit her top on a short squeeze , after they
cover is when a stock like her falls.
If she breaks 100 she could go to 50, but could rally
after this down draft.
It's still a mo mo market both up and down, we have
3 times the people trading index funds now than we
did in 97. And index funds don't keep any cash reserves
so when people pull out they have to sell futures or stocks
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All he talk about a rate cut seems to be dropping the
dollar and the market could follow the dollar down
that's the big fly in the soup , people forget that
RATE cuts take time to work and like in 98 it wasn't
until after the 3rd cut we bottomed , the first two
caused the foreigners to pull out as the dollar fell.
So a real bottom won't hit till the dollar hits a low.
But with the repos we could get a rally and likely
will if he don't stop shoving money in.
Remember last year the market went UP as he increased
rates and I was pointing to the insanity of him increasing
rates with one hand and doing repos with the other
those repos can over ride rates as they help the
short term bond spreads . Later when he stopped the repos
the yield curve inverted no one seemed to care, but an inverted yield curve is the biggest warning the market can get.
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Every one has fled junk bond funds and guess what they now look to be trying to turn up.
The herd is always out at bottoms and in at tops.
Jim
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