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Strategies & Market Trends : The Amateur Traders Corner

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To: Tom Hua who wrote (4924)	1/4/2001 11:04:31 AM
From: Rutgers	of 19633

Hi Tom, your timing is much better than mine... but I'll go on record as saying we see NAS 2800+ before end of next week...just seems to me that few can deny that 50 points was unexpected at this time. Indeed, from everything I've read (just a week ago, Epstein in Barron's made a case where rates could be left unchanged at Jan. meeting), the consensus seemed to be a 25 pt cut at the Jan meeting. Therefore, I think this good news may have some legs. First, it should be the catalyst for those funds on the sidelines to begin to leg in. Second, short interest was at record levels and not all the shorts covered yesterday. Third, I am believer in the irrational exuberance on the upside translated to the opposite on the downside. Bottom line: I think we move higher in the broader sense through January possibly even testing 3000 again. As January comes to a close, it will be time to re-evaluate. Coming from me, however, remember that this and a single ride Metrocard will get you on the subway in the Big Apple!

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