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Strategies & Market Trends : Sharck Soup
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To: velociraptor_ who wrote (34584)9/7/2001 1:54:19 AM
From: American Spirit  Read Replies (1) of 37746
 
When the crowd is this bearish, watch out above.
Except for ST I haven't seen one even slightly bullish post anywhere on SI today. That either means nobody's minding the store and short traders rule the market now or else - your short money is sitting there exposed and waiting to be harvested. Very quickly perhaps.

All the shorts (most of SI traders) are bashing the INTC and MSFT guidances but you know what? I was surprised they weren't worse. INTC 6.3 billion revs this Q? It rather sucks but it's not terrible. And Softie is hanging strong. Of course the debate is what will happen in coming quarters. That is where you are taking the leap of faith that we will fall into a major recession. I admit that is possible, although remember, we are now testing April lows, we may be at the bottom and a lot of smart shorts should decide not to get greedy. Pigs get slaughtered, remember? At the same time any buyer with guts has got to know that longterm these are very juicy prices. Double your money prices. More in some cases. So that's the battle. And the bulls have been absent for quite a while. They're overdue for a comeback. And it could be a sudden one. INTC up after hours. And a lot of powerful people with plenty at stake in terms of keeping this market from falling any further. With hundreds of billions on the sidelines. I may be wrong but it is possible today was the bottom.
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