Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: sylvester80 who wrote (12386)	12/11/2001 8:27:11 PM
From: t2	Read Replies (4) of 99280

The market has basically gone as low as it can get after the big run up. I know many think this is it..now it is ready to move lower. I believe this was the move lower. The money market funds are too low now while there are so many companies that signal a bottoming out in their business and many others making note of a pick up in demand. It is hard to fight the stock market given an expected economic recovery ...all while we have seen short interest hitting record after record every month. We had a nice pause..a welcome pause. I had gotten a bit nervous lately about the big rally in the Nasdaq along with a lot of other people who are bullish. Shorts are very confident of a drop at the same time the bulls are questioning a move higher too! I think it is over now and the Nasdaq should blast past last week's highs..given all the negative short term sentiment. I am not going post all the reasons why I think the market is going higher; better comparisons, better leading economic indicators versus expectations etc... Semiconductors, Storage, Wireless had a big pause and should resume now---saw most of these stocks move up today. NTAP was rocketting higher even yesterday. I had been in tech (concentrated in semis) since late September and thought about taking more profits recently---and now realize there is really no reason to do so..in the near term. JMHO.

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