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Strategies & Market Trends : Shorts waiting to happen
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To: Kris Barski who wrote (307)7/22/1996 9:19:00 AM
From: dppl   of 852
 
Hello Kris,

I really enjoyed your posts - excellent and perceptive.

About Cadaver's idea that maybe the market is now bearish... well, just peruse the SI individual stock threads - it seems to me that the bulls are still rarin' to go... EVEN in the very high P/E stocks.

People on the MSFT thread (and the options thread) are buying calls or are saying they will... Also look at Barron's this week: my take is that opinion is still bullish ("this was a healthy correction and the volume indicates it's the last..." or words to that effect). Of course they also published a little piece about a chartist who is predicting DOW 4700... and a quote from Dick Arms who views a retesting of 950 likely and a lower low also likely.

Another item of note: momentum players did show up on Thursday in SYSF the day of the stock split. SYSF is a a stock I've been following - a very high P/E co. in the software field which is sitting on a precipice right now, looking for all the world like QDEK before its reckoning and like SHVA ASND and others in the network field. I was a bit surprised to see these players around (after the whack on Tuesday), but as you say the market was so oversold on Tuesday it was hard to go wrong... However, judging by the blocks (mainly 10K) these were momentum players with very short term objectives.

I really appreciate your input... It would also be good to be challenged by anyone of a contrarian view so as to keep thinking from leading to tunnel vision.

Good Luck

dppl
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