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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: Jean M. Gauthier who wrote (32969)	6/21/2000 1:11:00 PM
From: High-Tech East	Read Replies (2) \| Respond to of 64865

Jean, re ... csf.colorado.edu ... the commercial hedgers (the institutions) are net short the S & P 500 futures by a larger margin than has existed since at least sometime in 1994 (or earlier) ... usually, the individual investor is the opposite from them, and mostly wrong ... this position is intensifying ... I have been following the data in Barron's ... ... my interpretation is ... (1) the individual investor is probably driving this recent recovery while the institutions are going short more and more ... (2) very likely, we are heading back down to test the lows again ... (3) my personal belief that we never established a bottom may be confirmed - there was little fear, no capitulation or panic ... individuals are jumping back on many of the same horses that they were riding in early March ... witness today's WSJ ... msnbc.com ... my interpretation is my opinion ... judge for yourself ... Ken Wilson