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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: kodiak_bull who wrote (389)	2/26/2001 3:16:30 PM
From: Warpfactor	Read Replies (2) \| Respond to of 23153

That LPTH is looking very strong today. Looked it over - I will add this one to my list. PHTN is a tech that I held through the recent weakness, and it wasn't bothered that much by the pounding that other techs took. Their business - capital equipment for the flat panel industry, is still quite robust. Comparatively speaking. Are you still holding on to MVK, Kodiak? That one has put a hurtin' on me lately. Don Hays references something called the "Smart Money" index lately. If I've got this right, you take the gain/loss of the NASDAQ during the first half hour of trading, and divide it by the gain/loss during the last half hour. The result is a ratio of "dumb" money vs. "smart" money. Dumb money refers I guess to the CNBC inspired novice. The guy that watched CNBC in the morning, gets all exited about what so-and-so analyst says about a stock(s), and buys at the open. The converse is that he listens to the bearish morning analysts and gets scared and sells at the open. The "smart" money buys at the close, as defined by this index. In January we had a situation for weeks on end where the NASDAQ was opening weak, then gaining strength throughout the day. Dumb Dave and dumb Darla were panicking out at the open. The Smart Money index was moving steadily up. In the past few weeks, this trend was reversed, the dumb money was back to buying at the open - the NASDAQ opened on the upside and by 10 am EST was selling off already. This trend may be in the process of reversing again. I've been looking for down openings that transform into reversals, to signal an upside NASDAQ move. Today we had an up opening, followed by a selloff, followed by whats looking to be a stronger close. The "Dumb" money selling into any rally just to get out in the morning. I'd like to see a down open tomorrow that quickly reverses, that would be a bullish sign. At least for the short term. Warp