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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 662.72+0.4%Nov 19 4:00 PM EST
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To: American Spirit who wrote (79984)7/11/2001 1:14:57 PM
From: t2  Read Replies (2) of 99985
 
Who said I'm optimistic? I just wouldn't sell now. Or short.

Thanks for the clarification. Basically, us longer term bulls seemed to have thrown in the towel for a short term recovery in the market. I am doing the same as you..just holding positions....not willing to short the Nasdaq at current levels even if I believe there is potential for certain stocks to go lower, such as JNPR. Any bounce will probably pull these types of names higher as well, and probably significantly, since there is also a lot of short interest in this name. I will probably short it when and if it bounces. QLGC is another name that I would compare to JNPR. Should have thought about that one earlier. It had only occured to me after reading Zeev and bobby_beara's discussion yesterday. Again, only willing to short these when and if there is a significant Nasdaq rebound.

I have no desire to sell my main holdings but these companies do have earnings and a reasonable PE.

I don't have any cable stocks..or baby bells but these look to be benefitting from the CLEC disasters and the telecom equipment price competition. Looking for good entry points in some of these..except the long distance carriers.
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