MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 680.44

+0.6%

Dec 19 4:00 PM EST

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To: Chispas who wrote (79058)	6/20/2001 12:10:46 PM
From: t2	Read Replies (1) of 99985

Energy stocks looking shaky. They are bouncing around; might be ready to take a dive soon. The regulatory developments in the past week may be the trigger that starts their decline. It just may be enough to make many mutual funds wanting to take profits and leave the new investors in the energy sector holding the stocks before the big drop. Sure there are possibilities for further gains but why take that chance --that may be the funds' perspective. I am shorting many of these names. Don't know if I will hold the shorts for long or just play for a short term move. I could be proved wrong but I believe it is a reasonable bet to play the downside on these.

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