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Strategies & Market Trends : WR's Momentum Trades -- Ignore unavailable to you. Want to Upgrade?

To: Bernard Ng who wrote (9351)	2/9/2001 7:26:01 AM
From: ChrisJP	Read Replies (2) \| Respond to of 11130

Hey Bernard, I tend not to believe or seriously consider anything I read on RB of that nature. However, I'm gonna go out on a limb and hold out on EVOK for the mid-2s. I hope NTAP doesn't pull an ARBA on me .. you know ... great earnings report ... followed by down grades. Let's talk about volume: CSCO's earnings report should have been a NASDAQ capitulation event. But it wasn't. 300M shares of the 2B share volume was CSCO's. Yesterday, 1.6B shares, 400M were in the 10 most active stocks. A lot of stocks I watch barely moved ... on low volume. In one sense this is good, because it means most of the speculation money is out of the market. But IMO, it also means we are going to enter a phase of the market where it has a slightly downward bias and declining volume. A "water torture", low volatility decline. Finally, a guy on CNBC just came on saying what I was saying - CSCO's inventory numbers made it clear -- don't expect any miracle recoveries in the NASDAQ for another 6 months or so. I posted this thought on one of Wayne's threads back in April or May: When the public finally realizes that money market funds offer a risk free return equal or better to the stock market, what do you think they will do ? Chris "Day Traders Better Start Honing their Day Job Skills" JP