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To: chowder who wrote (64463)	4/13/2000 9:26:00 AM
From: Think4Yourself	Respond to of 95453

I have also noticed institutional selling, but it has been light in my stocks. Given their huge runs of late it may just be that the funds who bought last year are taking some profit. If they get foolish I will pull back on margin usage rapidly. I believe most fund managers in this industry are well aware of what is happening in this industry, and will not sell here. The best managers are much more likely to be buying here because you are right about both Oil anbd NG being at unusually high levels. My stocks are poised to report the best earnings in years and many will report all time records (again). EDIT: We had some very weak hands flushed at the open today.

To: chowder who wrote (64463)	4/13/2000 10:25:00 AM
From: BigBull	Read Replies (1) \| Respond to of 95453

Dabum, my decision to sell was an agonizing one because I know the fundamentals for this sector are great. I did not sell because I think oil is going to 15, or that OPEC blew it, or that the supply and equation for crude has taken a decisive turn for the worse. The key to my selling was in a phrase of JQP's... "The selling feeds on itself" The greed/markup phase for the Nasdaq is, to me, clearly over, and the fear/liquidation phase is underway. Since many investors played the game with imprudent amounts of leverage, margin call will beget margin call, rallies will be sold into, etc. But most importantly I don't think that under periods of extreme fear and stress investors will be capable of making rational decisions. This, to me, argues against the rotation idea. Maybe some of the old timers who've been through a few down cycles and have the scars to prove it will keep cool, but those are not the ones that worry me. This tech bear has the very great possibilty of spreading to other sectors, weak hands are forced to liquidate. My case is not against OSX stocks, but all (or almost all stocks) stocks. When I see the VIX at 40 or above and the big cap techs holding to their 200 dma's I'll be more confident that most of the weak hands have been flushed out, I will re enter this sector with abandon. IMO too much damage has been done for a quick and easy turn around in techland. If I'm wrong there is till plenty of opportunity to re enter laggards at still reasonable prices. Until then, it's to the rear with the gear for the Bullsky. Time for a little R&R. Still 30% long in the patch though, and itchin' to get back in the fight. Bull