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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: j g cordes who wrote (34922)	10/26/2001 3:52:33 PM
From: Johnny Canuck	Read Replies (1) of 68399

Hi Jim, The riduculous valuation screen is from marketplayer.com marketplayer.com I am lighten up on some positions into this rally in anticipation of a re-tracement of the current move. I have to admit though that even though the overall economic and business conditions are bad, there are some signs of strength and therefore indication of a bottom forming. On Tim's assertion that we should be looking at sectors for the next rally. I am not as convinced that sectors will rally as opposed to individual stocks. We are going through a period where the strong will get stronger and the rest will turn to dust. With that in mind, GNSS, TELM and KOPN are companies with products that are just starting to ramp. AVNX did not sell off since it was near cash and was able to emphasis it strong pipeline of products despite the lousy current conditions and potential 5 to 9 months of backklog of inventory at its customers. The report that Clint posted today on CHRT earnings are also positive data points though they are still few and far. GigE looks like it is gaining momentum internationally. MRVL is a good bet there and has held up better than some. RSTN is acutally in an amzing number of GigE wins. It is a sleeper stock that got re-discovered this week after its post Sept 11 update. It used to be part of the old CS company so it has a built in blue chip customer list. Route 66 is on hold. I hope to try again next spring. My classic car is about to go into storage for the winter. It looks like I need some transmission work done too. I went on a trip toward to Rocky Mountains in British Columbia instead of the Route 66 trip and I had a lot of overheating problems. That is not a good sign for the mountains of Northern California or the altitude of New Mexico.

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