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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Mike Harkness who wrote (46117)	4/13/2000 10:53:00 PM
From: t2	Read Replies (2) \| Respond to of 99985

It is hard to short when the Nasdaq market has declined so far. Did you notice that some of the speculative biotech stocks are holding up. That is not a good environment for shorting not to mention the huge drops we have already had. Better to short at the top. However, the old economy stocks with relatively higher valuations may be good candidates. I think the opportunities in the techs does not exist anymore. Of course selling/or shorting the opening rallies still looks like a sure thing. It just seems that the Nasdaq is going to close higher one of these days and people are going to jumping up and down celebrating, forgetting the pain of the past couple of weeks. That would probably result in more money into the market. Unless, Nasdaq hits about 4500, I am going to avoid shorting---instead go cash if necessary. Holding cash is what a lot of investors are doing, IMHO. I don't that many are being sold out by margin clerks anymore---otherwise we would have tanked big again today.