MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 691.72

-0.1%

Jan 16 4:00 PM EST

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To: American Spirit who wrote (76217)	4/30/2001 12:36:06 PM
From: t2	Read Replies (1) of 99985

A.S., What I find interesting is the increases in short interest on Nasdaq stocks last month. The short covering rallies in certain stocks were so predictable--Ciena, JNPR types. Shorts had just gotten so aggressive and that seems to start reversing itself now on a broader scale. Just reading a lot of message boards as indicators is also leading me that conclusion. Once this current move up stalls (and if it is big gain as I believe), I would be a little cautious...but I don't see the market coming to that point in the near term. When short interest declines, I am planning to take some gains. Expecting a decline in mid May numbers. Mutual fund cash levels, high short interest, asset allocation shifts from bonds to stocks, increasing investor confidence and better economic data is a key factor in getting money inflows into tech stocks....and that seems to be the way it is playing out.

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