Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: AllansAlias who wrote (53767)	1/4/2001 12:16:11 AM
From: chic_hearne	Read Replies (1) of 436258

It just struck me how panicky this move was. Not only was it a surprise cut and 50bp to boot, but they stated that they will step up with more if they have to. I just got off the phone with my uncle, he's a playa. He dumped a Truckload of INTC and CSCO over the last two days. Delayed tax gain selling. His theory on today's action, same as last year. The shorts piled into what they believed would be sold the first of the year. Last year QCOM, this year anything where people are sitting with less than a $5 cost basis and want out (like him). According to him (I also agree 100%), this rate cut was such a surprise many of these shorts were caught with their pants down and needed out. Momo players got f*cked today if they were playing this game. Too bad we can't get daily short interest, or this may be more clear.

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