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

To: Zeev Hed who wrote (8000)	11/20/2000 11:24:35 AM
From: Bosco	Read Replies (1) \| Respond to of 30051

Hi Zeev - thx. Guess I was too slow for the 8K :). It seems to me that the SOXX has bottom out, maybe it is not a bad idea for me to concentrate more in this area. best, Bosco

To: Zeev Hed who wrote (8000)	11/20/2000 11:35:30 AM
From: Logain Ablar	Read Replies (2) \| Respond to of 30051

I don't know Zeev with the technical damage being done its only a matter of time before we start to see fund redemptions. This hasn't happened in quite a while and it can lead us to the 2,500 area pretty quick. With the strong $$ manufacturing is really starting to take it on the chin and construction is also slowing. I think we need a rate cut to take out some of the bite or a hard landing is a done deal and I doubt we see a rate cut in the near future. The PPT can only do so much without the FED. Agreed on CMRC it needed to get back to $53 area today and its not happening. $43 has proven strong so far but with the market going down I see $40 with potential to $32 (naz @ 2,500). I do expect it to recover (but from what level is still a ??) Considering the fundamentals with its recurring revenue streaming growing 50% sequentially it should be a good long term hold. Even in a bad market its SAP, PFST, GE, AA relationships will prove quite profitable. I had max pain @ $60 and took off some stops figuring the mm would make an early am run so yes I did get caught in this one. Tim