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Strategies & Market Trends : Technical analysis for shorts & longs

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To: Jurgen who wrote (17900)	10/7/1998 9:11:00 PM
From: Clint E.	Read Replies (1) of 69790

Hi Jurgen; >>>I bought some CSCO today at 43.5 - no conviction, just expecting a bounce. I'll get out if it breaks 39. Me too but what was that, Jurgen? Speak louder! Cannot hear you! Just joking with you. Trying to say the obvious. It is not fashionable to buy tech stocks these days. That used to be one sign of reversal, you know. What's fashionable is to short any NAZ stock that is not at its 52-wk low. Called momentum shorting! People used to buy stocks that made 52-wk highs. Now, it is the opposite. I am still amazed at the intensity of this drop. While everyone was eyeing DOW 6.4K, NAZ tumbled 300 points in eight trading sessions. Unbelievable. Scary to think what would happen if we get a plunge in the DOW. At least a few beaten-down stocks seem to have bottomed. Stocks like mot,nt,tlab,bmcs,cpwr,orcl,vtss,asnd,... Clint

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