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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: Charles Tutt who wrote (40045)	1/3/2001 4:15:06 PM
From: Prognosticator	Respond to of 64865

I have to disagree with your analysis: I'm confident we are where we are because of shorting. Shorts drive the price down, cause longs to panic and/or stop loss orders to kick in, and then cover as a herd, leading to the kind of 20 minute 20% short-squeeze rally we saw today. Then they re-short, and the cycle repeats. Only shorts have the burning urge to buy on good news, and mainly it's their stop-loss cover orders that do the buying. We'll see: my guess is that coming into earnings we'll see short covering, and a commensurate rise in price, followed by another drop soon after. BWDIK. My January $30/32.5 calls are up nicely today, but I expect them to drop again before earnings. P.