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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: iod_sherwood who wrote (79748)	7/9/2001 1:28:36 AM
From: t2	Read Replies (2) of 99985

The kind of math that you did on EMC is what seemed to have made investors nervous last week. It is the one stock that factored into my thinking. I really did not care about AMD...they are just now getting beaten up by Intel. Marconi was blamed for the selloff on Thursday...that was BS..everyone already knew how bad the telecom equipment sector is; I would call Thursday just a light volume selloff. But Friday.... I believe strongly that it was EMC that really put the scare into tech investors; it seems to be carried over into Monday. I don't believe it is as bad overall in the techs and therefore, there is potential for small suprises in the coming 2 weeks. If enough people start believing that we are hitting trough earnings this summer, they will buy now. Trough earnings for the PC sector are almost a certainty in this summer (imho) and investors are probably going to buy the sector ahead (ie..now) of the launch of Windows XP. Of course, I could be wrong on the techs near term ( protecting myself on the downside with cheap puts...just in case).

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