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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Dealer who wrote (38189)6/26/2001 9:40:51 AM
From: Boplicity  Read Replies (1) of 65232
 
they are reeling them in, but it's the big fat fish from years of bottom feeding that will be last to be hooked, but it is happening, how soon is anyone's guess. I had been bullish until about a three or four weeks ago when I started say we had enter the put up or shut phase, and went neutral. What I mean by that is the FED can hold the market up only so long, it's earnings that will matter. It's most obvious that the second half recovery has been pushed out till q1 to q2 2002. Now it's matter of waiting it out till the anticipation comes back into the market. Maybe what's needed is nice flush (I don't think we will get that unless some biggie, like IBM and MSFT blows up, that have been able to do ok during this period of adjustment), or even test of the most recent lows, to clear it all out and reel in the johnny come lately shorts. All and all, I still feel we have enter a new bull market off the April low, but one that is going to need an extended base building period to work off the weak hands. So it's a traders market.

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