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Strategies & Market Trends : MDA - Market Direction Analysis

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To: Boplicity who wrote (79175)	6/22/2001 8:36:55 AM
From: t2	Read Replies (1) of 99985

Market direction: Communication sector started moving yesterday. I had thought that it would take a few more days as the funds sell the JDSU, NT, GLW types and get it off their books altogether ahead of quarter or mid-year end. It must mean that the bulk of selling was probably over a few days ago. These are stocks are the ones could bounce big; JDSU up 7% this morning pre-market. Will be looking for the weaker ones this morning to add positions. Darn...I got too greedy and waited too long to play the bounce.<g> Well, at least I had bought some of the beaten up group but did not get a chance to load up. (gotta stop trying to time it perfectly<g>) Hoping for some weakness in a day or early next week so that I can load up for a trade (big one) and sell first week of July. Had already bought some but will keep adding for the rest of the month....bad fundamentals for the sector but gotta buy for a great trading opportunity. BTW--if the funds have sold, you can bet the short sellers don't want to be short the group as badly as they did before. That means fast moves driven by short covering, needing only little real buying interest to propel these higher.

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