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Strategies & Market Trends : Ask DrBob
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To: Drbob512 who wrote (42888)8/24/2001 12:29:36 PM
From: FLACK  Read Replies (2) of 100058
 
Drbob, thanks for the intraday update...

I agree that we're seeing a technical rally from oversold
but I don't see any change in the economy and
the CSCO reorganizing could be just another cruel joke
on unsuspecting retail investors.
If we continue up for another day we're
likely to see short covering and a false signal
that volume is increasing dramatically on the buy side, thus feeding
the notion that all is suddenly right with the world, which it isn't.
I'd love to see a couple of parabolic days.
Makes the shorting even more enjoyable :-)
Meanwhile, I'm long the S&P after having been short
for a week. No other positions.
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