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

To: The Phoenix who wrote (41140)	10/19/2000 6:37:32 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 77400

I too would have liked to see a larger short interest. I think that it is also important to pay attention to what GVTucker stated about these dramatic rallies. Bear market can be a real bitch, even for the bears. We have the VIX coming down to a rising trendline at 26, at which time, I would watch it to see if it breaks through or bounces up. The VIX works inverse to the market, so if it bounces up, we should see some downward pressure (there is a chicken and egg thing going on here too). Another thing to take into account is that we never really saw true capitulation (I use the tick for this, I would have liked to see -1500, but would settle for -1300). There are lots of positives though. Naz chart gave a buy signal, CSCO broke a double top and the bearish resistance line, but that doesn't mean that we can't have one more correction to really put the fear of god into us joe sixpacks. The maxpain point for the SPX is 1440, so I do think we have some upside in the market tomorrow, but I am looking for next week to be a little bit less friendly for the bulls. The good news is that CSCO is acting like a general again and that this correction does appear to be technical (IMO) rather than an overly negative fundamental correction.