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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.72

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Jan 16 4:00 PM EST

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To: Clint E. who wrote (33306)	7/9/2001 11:49:52 AM
From: j g cordes	Read Replies (3) of 69835

Hi Clint, cautious yes.. but also aware that the general malaise and trillion or so in sidelined funds can spark a profitable rally. Right now, this week.. besides the Comcast bid for broadband delivery there's not a lot happening except profit warnings and write downs. Early today some analyst had positive things to say about MOT. I didn't even listen to it, instead my first thoughts were it was another institutional pre-earnings pump so they could sell a few shares into bad news. Having thought that, I then thought how I'd probably buy after the dissapointment and subsequent downgrades that happen on bad news. What a state to be in.. not trusting the analysts, indeed trusting them to have lied then playing a countermove. If the whole investment community is reasoning like I am then we're in a pickle until a convincing string of under hype and better than expected earnings emerges. This last month overall funding was negative for stocks, new money was exceeded by withdrawls. At the same time new issues were running higher than normal, more shares diluting less liquidity.. not a good situation. So, with that as a background.. a vodka tonic and a hammock is a better investment at the end of the day. Jim

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