Zeev's Turnips - No Politics Message Board

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

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To: Zeev Hed who wrote (85315)	6/26/2002 9:35:42 AM
From: Earlie	Read Replies (3) of 99280

Zeev: Have been up for hours, completing homework for the day. I will clear my last short (MU), at the opening and stand aside. Why do this? It would not surprise me to see a decent bounce develop before the day is through. - the U.S. economy MUST take in well over US$1.0 b per day (net) in foreign investment to maintain the current account. The government has to be in total panic this morning, so I expect it to "do something'. - The Fed speaks this p.m. - The overnight drop is, in fact, rather overdone..... Worldcom's accounting revelations are no surprise to the bears (who have been claiming as much for many moons) and to all intents and purposes, it has been "toast" for some time, awaiting only the final "coup de grace" - MU's numbers were ugly, but again, the semi spot markets have been telling us as much for quite a while now, so again, no big surprise. - markets could experience a nice panic-induced sell-off this a.m. (while the bears clear their short accounts at the same time). The back side of such an event is typically a nice bounce. Best, Earlie

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