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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 674.96

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Nov 25 4:00 PM EST

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To: Clint E. who wrote (15643)	4/22/1998 12:46:00 AM
From: space cadet	Read Replies (1) of 68294

Hi Clint, long time no speak. I agree that the semi's are not where the action has been at, though even intel is firming here. I am interested in your appraisal of msft since I just did something risky with calls on it. I bought out of the money relatively short term calls on it, which I have religiously swore off for the last year. But this crazy rally is bringing alot of old bad dangerous habits back out of the closet. It does feel like a top but first the internet nonsense has to collapse before the "real" stocks with real p/e ratios like msft manu and psft get hit. Of course, maybe tops don't follow common sense- that's why I'm going to try to pay close attention for the next month or two. I'm expecting msft to have a nice earnings rally, though it could be fairly argued that it already had that rally and I just missed it. I'm thinking we have at least another few weeks if not months of hot air. Maybe we even go straight to 10k without stopping from here. Incidentally some of your short picks are on my list as well, especially mxim and qntm. Of the entire list I think txn has the lowest p/e ratio so I would probably hesitate there. I really can't say I even understand the dynamics of a stock like lhsg. There are an infinite number of no name internet stocks that also look extremely tempting. I say they are the first to fall, followed by the name internet stocks like aol,yhoo,amzn. At that point I will be neutral or short. Hopefully we are talking about a couple of days if not weeks after the first preview travel type of fluff has finally collapsed. My quotrek may prove handy this summer...

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