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Strategies & Market Trends : Rande Is . . . HOME

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To: Rande Is who wrote (45048)	1/9/2001 11:13:59 PM
From: Mike M	Read Replies (1) of 57584

I would still think that any sharp upward movement would come off a day where news is at its worst. . . this gives short-sellers a false sense of security. . .and makes the perfect time for a dogpile-style short-squeeze burst on record volume. Probably more prescient than even you know. I have looked at the charts of a bevy of stocks tonight. I think there are an awful lot of companies which may be due a short slide, but it sure looks to me like nearly every one is further poised for a more significant move up. Perhaps it will be the MOT earnings report and the concomitant announcement of future prospects (though quarter's earnings should be fairly close to projections, outlook for the next couple quarters is a little bleak. I doubt, however, MOT mgt will say much that isn't already fully digested). We may well be poised for a knee jerk reaction, but if I were a betting man, it would be that it won't keep this market down. Since MOT won't report until after market closes tomorrow, it may be some other catalyst in the morning. But this market is extremely oversold, the troops are bearish as hell, nobody trusts an up move and we are due one.

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