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Technology Stocks : All About Sun Microsystems

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To: QwikSand who wrote (45502)	9/22/2001 11:30:52 PM
From: High-Tech East	Read Replies (1) of 64865

<<Three strangely complementary things happened in the last few days: (1) Monday-Friday: Panic selling in many markets. Attributed to Word Trade Center disaster but many other factors had already been at work. (2) Friday: COT Report shows largest DECREASE in commercial net short S&P index futures contract position in 6 months, bringing it down to the lowest level since May (although relatively speaking it is still large). (3) Saturday: Barron's comes out with a cover article entitled: "It's Time To Buy Stocks". Maybe time to use some of this cash after all?>> QS, obviously, you could well be correct ... we will see. (1) I do not see much panic selling yet, although this coming week, especially Monday, might be a good bet for a bunch. I am waiting for much larger volume of mutual fund redemptions. (2) I am not paying much attention to technicals or the "commercials" right now. We are in another realm altogether in my opinion. (3) The Barron's cover today gave me quite a chuckle - another effort to 'prop' the market. The article inside was not very bullish at all. Why people are so enthralled with trying to buy near the bottom is beyond my imagination? ... especially when this market ain't going nowhere in a hurry when it gets there ... I would bet big money (and have) against a "V" recovery in the economy or equities. I still think we will see the S&P at 800-850 before it is over. Waiting till at least late November to buy anything seems like the prudent thing to me. If you are a short term trader, you can probably do well on the next short term move up (which could be very powerful), but I have almost never done well with my short term trades. I have even held most of my puts for about 4 to 6 months, which is why I just bought March S&P puts instead of December. Ken

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