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Technology Stocks : Applied Micro Circuits Corp (AMCC) -- Ignore unavailable to you. Want to Upgrade?

To: Allegoria who wrote (1148)	1/9/2001 12:29:17 PM
From: Trader Dave	Read Replies (1) \| Respond to of 1805

Caveat: I think it's impossible to call short term markets, but the shorts are working every angle and the longs are waiting on the sidelines. The shorts will say: "AMCC may have had a good quarter, but they are at the bottom of the food chain and will get walloped later in the year." Of course, at some point sustained growth will turn against them and you have panic buying combined with panic short covering. For now, in this market I think the rallies are just driven by short covering. One way to pay for the insurance is to sell covered calls, but this market reminds me as being similar to the euphoria of last year. Things are usually never as good or as bad as they seem. I'm hopeful that this market is clearing out the speculators and short term gamblers. TD