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Strategies & Market Trends : The New Economy and its Winners

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To: fedhead who wrote (4298)	12/20/2000 2:25:33 AM
From: craig crawford	Read Replies (2) of 57684

I don't think we hit 2000 anytime soon. Everybody says we should hit 2000 just like at 5000 there was all kinds of talk about Nasdaq 6000. >> You are right about starting to accumulate positions. I wouldn't do it with calls though. << Forget accumulating, I'm buying with both feet. The only reason I wasn't too aggressive yesterday was because the market was up ahead of the announcement setting us up for disappointment. I would have rather had the Nasdaq down 120 before the announcement right at the 2500 support level which we are testing right now. But I wanted to get long something and you've gotta start taking a stand somewhere. I will be happy to add some more calls tomorrow. Calls may not be for everyone, but they do the trick for me. The simple fact that many people are warning not to buy any calls just serves to reinforce the notion that everyone is too negative and doesn't expect much of a rally. Like I said before, I wouldn't have it any other way. We'll see if it really is different this time. In the aftermath of the '29 crash the Fed lowered like 200 basis points and increased liquidity and it still didn't do the trick. Rates went lower in Japan all throughout the 90's and it didn't help either. (they were a little slow to start easing though), just like many people are feeling Greenspan might be. But there is STILL a rally in the cards no matter how bearish I am longer term! And it is going to start very soon, if not by the end of this week. P.S. Did you know that SUNW is down 10 days in a row on volume averaging about 89 million shares a day? That's almost 1 billion shares of SUNW trading in 2 weeks If they knock SUNW down again tomorrow, I will buy even more calls. I'm talking hundreds of contracts in the multiple five figure amounts, not some piddling $500 worth. I am taking a STAND, you can laugh at me if we go down another 10 straight days to Nasdaq 1500, but at least there is no ambiguity as to where I stand.

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