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Non-Tech : The Critical Investing Workshop -- Ignore unavailable to you. Want to Upgrade?

To: DownSouth who wrote (978)	1/19/2000 6:00:00 AM
From: Voltaire	Read Replies (4) \| Respond to of 35685

Morning DownSouth, One last post before I leave for my Epic Golf Encounter with our Dear ole Uncle Frank. Correction Alert: The correction of a gradual nature officially started as of yesterday with MFST's earnings report and the rejection of it's substance by the HOUSES. I have stated earlier that the Fed. has for all practical purposes thrown up it's hands and in essence have told the Houses you can handle it from here. I also have said many times that in order to have a substantial correction, there must be a catalyst and there is not one on the horizon, RIGHT? WRONG, the Houses will begin this correction on three fronts. One will be the BOND YIELD and the frightful prospects of higher interest rates, two, they will stress empirical evidence of oncoming inflation by exacerbation of potential OIL PRICES and third, there will be the stressing of the old stand by, SECTOR ROTATION. In actuality, the Fed knows it cannot raise interest rates because there is actually a depression for all practical purposes in the most stocks outside the NAZ. With the Fed. taking itself out of any effort to bring the markets back, the Houses are left to do the work themselves. With that in mind the correction should last no more than about two to three weeks and be no more severe than a 30 % correction on the Naz and about 15% on the DOW. QCOM should make it's run up to about $170 before earnings and then pullback with the rest of the Naz to about where it is today. NO BIG DEAL. I would get rid of all NEAR TERMINAL OPTIONS on the Qcom runup and relax with money for about three weeks. WATCH HOW HOUSES EXACERBATE BOND YIELDS. Remember they buy and sell bonds just like they do stocks. Do not fall for their sector rotation song and dance. Expect to see some dramatic statement by a TA guru like Acampora that there are signs of a temporary top etc. See ya, Voltaire P.S.- Remember the key for Qcom is - AMBIGUITY, AMBIGUITY and AMBIGUITY!