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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (6532)	2/9/2001 11:59:42 PM
From: Dale Stempson	Read Replies (1) \| Respond to of 19219

JT, Interesting play going long CSCO today. I want to do the same, but in a few days we might see the techs get hit again, taking down Cisco some more. I believe it's safe to say that the forward comments we'll hear during next week's earnings reports from HP, Dell and Applied Materials are likely to be something less than encouraging. If just one of them indicates conditions are getting uglier than we're currently expecting, I would expect some significant selling to result. I think the second half turn-around belief is now coming into question and folks are beginning to wonder if we might have to wait until January. Next week could provide an indication of what the answer might be. I went short the NAZ with a partial position about a month ago and have been under water until the last few days. I'm tempted to lock in a small win here, but instead I'll let this play out a bit longer with house money riding, coupled with a break-even stop just in case. In any case, I enjoy your comments and analysis and continue to learn here. Regards - Dale