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Strategies & Market Trends : Sharck Soup
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To: American Spirit who wrote (17749)4/21/2001 7:55:16 PM
From: Paul A  Read Replies (1) of 37746
 
Afternoon American Spirit :)

Ok- you may get another 50-80 points on the nasdaq early this week, but my bets are still on that the bad news just keeps piling on and piling on and eventually people like you start selling..

I have been sitting here for hours trying to convince myself that there is a clear/defined recovery underway and I just dont see it.. so why the HELL would anyone buy at these inflated prices?

I still say we fall convincingly below 2000 one last time.. Im very very VERY bearish on the semis (which thus far have kicked my ass) but I still think the TA is only reflecting a rather large short position that has been squeezed to the max.. AS for the rest of the tech sector, there are some great deals out there and ill start buying those long..

I hate MU.. I hate INTC.. I hate anything that has the word 'memory' or 'chip' in it.. I think they are doomed, and the short squeezes are proof of that ironically.. Shorts do better homework- thats why so many were short the semis going into this squeeze..

christ- I am properly allocated going into next week and still they have me against the ropes in the sense that my loses if wrong will be a bit more than I wanted them to be.. but I think this alone is enough proof that shorts are the majority of the buyers here and the rest is just momo-b.s. thats playing on the squeezes..

As always man- if your right? then that makes me wrong 2 times and THAT will leave a mark.. but I dont think Im wrong.. I mooch off the best of them in order to come to these conculsions :)
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