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Technology Stocks : Jimbo's Playhouse/CPQ -- Ignore unavailable to you. Want to Upgrade?

To: Night Writer who wrote (8475)	12/28/2000 6:49:38 PM
From: Stephen	Read Replies (1) \| Respond to of 12663

NW ... Commitment of Traders .. it can be checked here. Overall, it is regarded as the 'bigger/smart money' ... and this site also shows the 'smaller' (everything is relative -LOL) investor (who was also recently at a record high I believe). How much of this is hedged or has an underlying transaction is something that's more difficult to guage. I am not sure how it could be compared to what you see on RT. commitmentsoftraders.com As for the New Year ... I wish I knew. I think there has been a lot of short covering to book profits during this year....(not everyones closes end of October) though some may well go into next year. There appears to have been a lot of tape painting and I have seen mostly selling into strength this week ... but nothing stunning. I don't know if funds will buy back tech stocks they have sold so they don't show in their portfolio ... all the growth fund commentaries I read are no longer interested in the DELL's INTC's MSFT's etc ... and given the limited liquidity, knowing what stocks the big money is chasing is going to be more important than ever. My biggest problem next week is I fear a slew of earnings warnings from tech companies ... and unlike previous years, when it was relatively safe to play stocks through earnings (assuming they haven't warned), I believe that even those tech companies that meet earnings will probably give softer guidance for the next qtr. They can't use investment gains to boost earnings anymore, and stock options are going to be replaced by salary expenses which will give margins a real hard time. And to rub salt into the wounds ... those companies who may still eek out a profit may have to pay taxes on it for a change as they don't get the tax break from employees cashing in their options and essentially taking on the liability. That's hardly cause for any tech rally - especially with qtr on qtr comparisons being so difficult cause of how strong last year was!!. I also fear that lots of old economy stocks will continue to warn ... so the money may continue to go to areas I am not used to trading ... pharms, energy ... and the unquantifiable I-can't- miss- earnings- cause- I- don't- have- any biotechs (I know they're not all that way ... ). The tech cycle maybe ending (historically long overdue) so I'd better get better at shorting or find something else to trade - LOL. Whoops ... gotta go ... sorry for the ramblings .... Regards Stephen