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

To: el paradisio who wrote (49322)	5/4/2000 1:24:00 AM
From: Benkea	Read Replies (1) \| Respond to of 99985

el paradisio: "I wouldn't buy SILI and EBAY in that market condition." In a tech market devoid of fundamental connection, short term activity is based on something else. That something else is mass psychology. Therefore, they are all schit until proven otherwise and I just want the favs that move the most. SILI is an exception as their earnings are actually favorable relative to their valuation. "I only trade indexes,mostly QQQ and WCOM for now." QQQ (yawn). That was one of the positions in my first basket on the Monday after the "Friday crash" a couple weeks ago. But, it just doesn't move enough. As for fundamentals, the valuation of the basket of the 100 QQQ stocks are outrageously disconnected with price. I lost my arse pretty good last July ($75K if memory serves) buying puts on that thing. Perhaps, I'm pissed off at it :-) You won't believe just how close I was to buying WCOM at $40 in the day or two before the big move :( I think I got busy or something and forgot about it. Since I've never traded it or owned it before, it was not even on my watch list - just the mental one. Take care and I hope you rake it in.