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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Logain Ablar who wrote (3273)	7/16/2000 10:21:09 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

Tom, some of my turnips are paling recently, so after a six weeks of a stealth rally, I think we may be getting a little rest, I still see the maximum down move to the 4000 area or a little below. Major turnip palor will return only if 3865 on the naz is breached. Thus my short term strategy will be to reestablish positions. In my rush of selling into the rally Thursday and Friday, my cash position has increased more than I intended (I am quite close to 50% cash). I am looking at reentry points in QLGC, SCMR, SNDK and EXDS. If QLTI continues its decline I may jump back in, but this down leg may not stop until the $40'. The failure of stocks like QLTI, QCOM, JDSU is worysome. MSFT is also running into some selling here at $80, but i am counting on MSFT and INTC amongst other to get the Dow moving again after a short respite. The SC are still weak and I would not be surprised to see CDTS back to $11 and SCON in the low $20' range, it is about time they start and deliver. The holy one puzzles me (thus I tightened the SL), by know, if the recent strength was due to leakage of some good news, the news should have come out, but like WSTL, the MM's are not managing to get it under $21. I am not going to start and look at CMRC since I am short on "time" this weekend. Good luck out there. Zeev