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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who wrote (120)	2/6/2002 8:48:27 PM
From: Joe Stocks	Read Replies (1) of 787

Sorry. I forgot to inform that I have a somewhat "warped" sense of humor. I have two lovely daughters and a son and no wedding this weekend. A cyber friend of mine that lurks on the board (no SI membership)e-mailed me and said that I was too serious about my trading. That post was directed at him. This market is getting very interesting. I don't think I have ever seen it act this bad without really breaking down harder. I rumor mill is going crazy. Many good stocks are really getting hit harder than I think they should. Utilities is a great example. I would think that there would be some rotation into these folks for the dividends that some pay. Two examples are CMS and AYE. Although they have held up fairly well I've noticed that they are weakening the the last two weeks. Also, I don't know how bad the power producers really are but CPN, MIR, NRG, etc. seem they are showing significant future appreciation at current levels. Power capacity in this country seems to be at it's limit. Extra capacity needs to be built to to have a cushion. Today's paper says that it looks like another El Nino is forming in the South Pacific off South America. Not because of that but just because we haven't added much capacity this winter I believe that we may see outages again this summer. If we do I expect to see some renewed interest in these guys. I'll be watching for strength. I also must believe that all the utilities should be in the same boat. Although I like CPN and MIR, MIR has the better balance sheet and I would be quicker getting back into that one. BTW, I took my daytrade CPN from 7.50 to 8 and did not sell and let it come back to 7.50 before I did sell. My trailing stop hit at 7.48 for a small loss. I traded it again for a small gain but was once again stopped out. Took my tech shorts home because as I said earlier I believe that the good news from CSCO was already built into the stock. Didn't expect to sell off as much as it did but it did and I guess we need to wait for tomorrow to see if it is for real. Joe

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