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Technology Stocks : What is up with USRX? Its exploding! News?
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To: Mary Ann Shubaily who wrote (62)7/23/1996 9:32:00 PM
From: Michael Burry   of 82
 
Just perusing the comments and commentary, the main observation
I have is that people are very bearish on just about everything.
Further, most stocks are supposed to have support at this level
(I mean among the leaders). What does this mean? A sharp
rebound? Or a selloff tomorrow morning, breaking all known
support levels before a bounce (my favorite)? If so, that would put
the entire market into a serious downtrend. Remember that the market
needs to retest last week's lows before it can move higher. Today was
coming since last week. That's a chartist's opinion of course.

My opinion, which is worth little, is that
people are too bearish, but the fact is that mutual funds drive
a lot of the market, and I wonder how well contrarian indicators
work now that joe average has his savings in mutual funds -- and
this is the first time he's hearing to get out of stocks since
he started investing 6 years ago. My family's mutual fund
portfolio is hemorrhaging. My personal portfolio stock system
got me out of my stocks (except one) on July 11. This is one
heck of a ride. What fun to watch. USRX tracks the market, with
a higher beta. I can't hardly wait for tomorrow night --I get
to find out what USRX really did, and I get to sleep.
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