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

To: Mark Ivan who wrote (5151)	9/16/2000 10:50:16 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

Right now, you got to be negative on MU and INTC, but I expect early next week to have at least DCB. After that, my broad model still has a rally coming, but I would have felt stronger about it if the recent decline produced at least one day of excess pessimism, it did not, so my cash has gone to 30% and could rapidly go to more than 50%. Unfortunately, I took some losses to raise the cash, not a situation I particularly like, and deep in my stomach, I still feel that these losses would turn out to be "whipsaws", namely, when I get back in it may be at higher prices. As for the specifics on MU, I could see a run to the $63/$64 area withiout breaching the current downtrend. What concerns me is that MU will be one of the first to report, and the current weakness might be an indication that such a report may not be as good as the street was estimating. On the bright side, earnings might still be stellar and the weakness might be related to the Rambus suits and counter suits, if that is the case, then a good earning could reverse the current trend. How about that as a hedged position? Zeev