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Technology Stocks : Identix (IDNX)
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To: brad greene who wrote (10291)9/11/1998 11:27:00 PM
From: Night Writer  Read Replies (2) of 26039
 
Brad,
Part of a post I made elsewhere. Thought you might find the NBR hedge fund comment interesting. Buys on the close may be a hedge fund closing their position a little at a time. How big are the buys?
NW

Bear markets normally run for seven months average. Small and mid caps have been in a Bear market for some time. According to NBR this evening some great companies are 30% down at this point. Also Hedge Funds are currently liquidating. To me that means they are covering their short positions with buy orders. I take this as a Bullish sign.

IMHO The Bubba problem is sort of like, buy on the rumor and sell on the news strategy. Only it was, sell on the rumor, and buy on the news. Ken Starr's dirty book is the news. Bubba is saying, "I'm sorry" to anybody that will listen. Who knows how it will turn out. At this point, it is in the market price.

The important things going forward are earnings, and interest rates. Greenspan has indicated a more global view of interest rates. This has decreased the worry in that area, but not totally eliminated it. The second worry is earnings. Companies that make or exceed expectations will be rewarded, the ones that don't will be dumped on the market. This might produce some excellent long term investment opportunities.
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