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Strategies & Market Trends : NetCurrents NTCS -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (5566)	2/11/2001 6:41:24 AM
From: robert b furman	Read Replies (1) \| Respond to of 8925

Hi Mike, I exited my Nvls short right at the close @ 36 3/4.The normal rush of short covering was absorbed by a last minute selling wave. More to come I suspect. As T is pointing out ,there are many stocks bottoming down to major test area's.I'm long some core holdings which I accumulated in Oct lows and now basically in cash. Not to hope pain on anyone,but I believe the buy of several years is just around the corner. Too many Generals are lined up at the firing wall: INTC,CSCO,AMAT,JDSU, These are all stocks Joe 6 pack buys to avoid major shakes and volatility - definitely wrong program for the short future! Major market turning points must establish a change in ownership from weak hands to strong hands.These occur with vix spikes and volume.T's 2B bottoms are also always part of the soup. Any good double bottom HAS to break below support to obtain the desired effect.It would appear that this setup is forming nicely. Sort of makes one feel like a big ole vulture up in the barren tree - but it sure beats dieing!!! Next week will be volatile - I think.I agree best to be out(with a major temptation to be short _ especially AMAT - they announce earning next week - another "no brainer -at best they'll hit a reduced eps and have a weaker earnings vision - perhaps poor on both like CSCO). Bob