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Technology Stocks : WCOM
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To: Rock_nj who wrote (10551)6/7/2002 5:55:43 PM
From: BEEF JERKEY  Read Replies (1) of 11568
 
Yeah I agree that it wasn't just one thing that lit the fuse today.

I'm quite sure lots of potential longs had their eye on WCOM and once it started to move they bought. It's a good strategy. See how low it goes and don't buy until it turns. This brings in shorts to cover etc. I get the feeling plenty got short under $1.50. Even this morning when it dipped below the last few days low - that's an old trick to draw in shorts - I'm sure there was some panic covering once $1.50 went down.

And the news has been good. Those still talking about BK are so far behind the curve it's laughable. It just ain't in the cards no more and I really doubt that it will be a returning issue in the future.

WCOM has already had the livin' cr#p beat outa of it. Now it's made a higher low and a quick move higher looks very likely. I'll keep my eye on last weeks high of $1.86. If WCOM goes through that I would think $2.50 is a certainty. next week should provide some good 'ol mo mo going into the meeting which could further lite the fuse.

Oh my god! I just realized! Longs got a hell of a ride on their hands! We're all gonna be rich! Lets see first of all I'll cure world hunger. Then maybe I'll buy Bernie's ranch. Hmm I always wanted my own jet.

LOL! Have a good weekend all!
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