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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: jjstingray who wrote (6301)11/16/2001 6:03:43 PM
From: t2  Read Replies (1) of 99280
 
This rally must be almost over because I am thinking about capitulating and buying some calls. I am sure there are many bears like myself considering throwing in the towel. That is a very good contratian indicator.

Well, you have not thrown in the towel yet. <g>

Seriously, by early next week we should get an idea of which way this market was going to go, if it had not been for options expiration.

My guess is that we are going up quite a bit because any skeptics of this recent rally had a chance to load up their shorts in the last 2 weeks. Just a hunch.

I really like to read news like the Janus funds bailing out of tech. I believe that some of these types of funds are buying back tech this quarter...at least the blue chip stocks...but probably the entire spectrum of techs.

I wonder what happens to those momentum funds (the good ones) that switched from high growth tech in 1999/2000 to high flying energy stocks last year and this......they may be heading back into tech...because earnings comparisons in tech are going to be a lot better than energy. Just a thought.

We should crack 2000 easily within a couple of weeks if my feeling about the mutual funds is correct. This coming week, I am going to take a look at recent holdings in the biggest mutual funds and the size of their tech holdings/cash levels...to see if my gut feeling is supported by evidence.
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