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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 695.17

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Jan 12 4:00 PM EST

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To: mishedlo who wrote (80748)	7/23/2001 10:53:55 AM
From: t2	Read Replies (3) of 99985

Mishedlo, I guess that Cisco upgrade gave you a nice shorting opportunity. Did the same but prefer the QQQs (holding some straddles on these as well--just in case we get a big rebound). Did balance out my tech shorts and puts with some energy and old economy longs. Now waiting for Greenspan. I doubt he would suprise the market with a cut unless the market is on the rebound. Put/Call was way too low. The basis for the Cisco upgrade (that the company is not aggressively selling at quarter end to meet targets) is not very sound, imho. What if they just recognize that things are bad and decided that the sales will look better in future quarters. That is, try painting a better picture with a higher order backlog. MSFT now dropping even with the possibility of settlement talks being under way...that is not a good sign to see it drop on positive news. BTW--I am thinking about adding some tech longs here (not much) in the PC sector...or maybe wait a bit longer.

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