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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: SyncMan who wrote (36302)	5/23/2000 5:25:00 PM
From: lawdog	Read Replies (2) \| Respond to of 77400

Sync, yesterday fooled a lot of people into believing a bottom was formed. I went long today, believing that we had a short term bottom. It really seemed like we would see a good 200-300 point move up on the COMPX before reversing direction. What happened today was shocking becuase of it was so fast and unexpected. I saw the NDX as being very weak and saw a H&S form just before the selloff. So I sold my long positions. Got out just in time. Shorted the mini rally near the close, it just didn't feel right. The action today really demonstrates the market's weak pyschlogy. Look at the market internals - they are a train wreck today. There is no doubt in my mind that we will see the 2ks. I am morbidly curious to examine the collateral damage that will be done when this is over. It could be very bad, IMO. All of the elements for some really bad economic consequences are coming together. A big storm is brewing.