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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: XenaLives who wrote (61720)5/4/2002 10:40:19 AM
From: mishedlo  Read Replies (3) of 99280
 
After hours there was a ton of selling at around 49.50. I think the MM's NEEDED MSFT TO CLOSE LOW.

At some point there will not be enough money being made in a declining market, or there will be a fear of killing the golden goose (the gullible public). That's when the market will reverse.

I think that time is very near for biotech, and probably so for the general market also. It is not unlikely, however, that biotech will get pumped and the techs will get creamed for a while longer.

Why would the MMs "NEED" to get MSFT below 50?
Unless those 30K+ Puts May 50 are short puts.
Then they want MSFT as low as they can get it.
Actually 30K in options on MSFT is quite small compared to most months.

As for the "golden goose", It is probably dead, but you are correct, when the powers that be have loaded up enough shares at the bottom, the markets will rise.

Right now bios are pathetically weak. Why do you think bios will turn? What is looming on the horizon (catalyst) that will turn bios around.

Profits suck, few drugs are getting approved, most of these companies do not make any money and probably never will (look at all the hope and promise in CRA on human genome research). How long will it take before ANY usable product comes out of that?

Well as soon as one does, then I am sure the pump will be back on and bios will take off for a week or month or whatever. Right now, I can not envision an enormous bounce off the bottom unless we see some panic.

What are your 5-8 best picks in this sector?
Top 3 as well if you care to share.

Thanks

M
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