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Technology Stocks : INTEL TRADER -- Ignore unavailable to you. Want to Upgrade?

To: Gersh Avery who wrote (8483)	6/4/2000 1:28:00 PM
From: John Harton	Read Replies (1) \| Respond to of 11051

Gersh Dude Re SPX trigger With a parabolic NAZ and VIX absurdly low a ~7% haircut sure seems reasonable to me. FWIW Took a look at VIX intraday for Friday. All the damage was done early(from bear perspective). There was a spike at 2pm where players took profits and the session closed with the VIX MA flat to slightly up. To me the early damage says the movement was almost all news related, not a fundamental change in perspective. Based on the stoch not yet topped, I wouldn't be surprised to see a "headfake" north on Monday morn to ~800 OEX . To me Monday and Tuesday should tell the tale. Also, the defensive $DRG and $UTIL sectors got black candles (probably topped) Friday perhaps to indicate that much of the movement was sector rotation rather than new cash from the sidelines. This leads me to think that if things turn heavily south the exit will be NAZ->CASH rather than NAZ->DOW Defensives ->CASH. Traders probably hesitant to go straight back into exited (ie $DRG) positions and ALSO holding on to new and not yet profitable NAZ positions longer than prudent leading eventually to some panic selling. I'll do my part Monday..plan to lighten up more on longs. Good Luck Dude! John