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Strategies & Market Trends : Classic TA Workplace

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To: rolatzi who wrote (38470)	5/8/2002 4:30:38 PM
From: patron_anejo_por_favor	Read Replies (2) of 209892

<<How about NTAP, up 25% today>> Yeah, a big part of today was short covering (look at the moves in stuff with a huge short interest, like the SAN suckers, or the communication semis). Another big contributor was hedgie-jamming of the futures to bail out underwater options positions (that was spectacularly successful, I might add). Typical bear market rally stuff, as Allan has pointed out, but it may go on as long as expiration (or at least well into expiration week). I'll be gradually legging back into shorts over the next week. Today was a good gold-buying opportunity, IMO....nothing at all has changed there (least of all CSCO's "pop-foul" of an earnings report).

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