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Technology Stocks : JDS Uniphase (JDSU) -- Ignore unavailable to you. Want to Upgrade?

To: contrarian1437 who wrote (8731)	4/13/2000 12:06:00 AM
From: lawdog	Read Replies (1) \| Respond to of 24042

Feel like it's worth taking the risk. Even after the carnage, up 600% on the year from doing unconventional trading - and that's if all my options expire worthless. On the charts, however, I must disagree. I had a very strong sell signal that occured on 3/24 which was verified on 4/7. Moved from Leaps to Long shares and built a cash position on 4/7. Moved completely out of all techs Monday AM by 8:35. Still don't have a buy signal, but have been nibbling at options with as little time premium as possible - Aprils. Although technicals are against this move, I feel that sentiment is becoming just negative enough for a strong reversal. Although, Put:Call ratio contradicts this. Also, the VIX is not showing enough pain for the kind of reversal I'm hoping for. On the plus side is earnings. If earnings can't stop this fall, I'm staying out of the techs until I see a strong buy signal. So, in conclusion, all I am only looking for short term gains from a dead cat bounce. Will go short as conditions require to raise more capital in prep for any meaningful reversal. Hoping to get the market going and coming in any market head fake. Near-term market direction is down, IMO. Another sell confirm today, Best of luck. BTW, this has all the makings of a slow and painful bleed. Keep some powder dry.