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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (8709)	12/1/1999 12:27:00 AM
From: John Pitera	Read Replies (1) \| Respond to of 63513

sounds good to me..and It Was Time for a Shakeout By James J. Cramer 11/30/99 5:02 PM ET Our old friends the Red Hots really gave up the ghost today, getting shellacked for a 6% loss. These stocks have been coining money for their holders, so I think the selloff is not the beginning of anything major. Join the discussion on Cramer's Latest or go to the Red Hots Forum. Why aren't I more worried? Frankly, that's how these stocks trade. They have giant runs and then have these sudden massive pullbacks. We call them "shakeouts," and they are a time-honored tradition. They occur when you least expect them, and they have no "fundamental" underpinnings -- save fear and greed. No Red Hot "blew up." No Red Hot signalled a slowdown. It was just time to ring the register. These selloffs, when they come out of the blue like this one, tend to last for more than a day. I think we'll stay close on this one. I was right this morning when I said I was taking it off the table. I don't want to press my bet right now and call a Red Hot bottom. --------------------------------------------------------------------------------