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

To: Victor Lazlo who wrote (43428)	11/13/2000 6:06:35 PM
From: chic_hearne	Read Replies (1) \| Respond to of 77397

Re: yeah right, the "smart money" held all this time, then just sold off today Wrong. Look at what Monty did, went long at 2850 and sold off as the day wore on. I sold back poots at the open then bought them back at half price later in the day, which in essence is the same thing. The "smart" money doesn't want to be long overnight, IMO. It's far too risky at this point. Do you think the Naz gets a 200 point intraday swing from long term buy and holders? Of course not, traders dictate the short term momentum. I'm sure many people like Monty when long at 2850 when it should've bounced only as a TRADE and didn't plan on holding overnight. To me, the late day selloff is significant because it shows there's not enough conviction to be long overnight. A sign of strength would've been closing on the highs and that didn't happen.