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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: edamo who wrote (32263)	3/2/2001 9:58:14 AM
From: r.edwards	Read Replies (1) \| Respond to of 65232

" The DJI touched 10302 – is that startling, or what? It closed at 10450, and we now have a quadruple bottom at 10300!! NASDAQ hit 2071, as this was real close to 1998 support. You can imagine how many reversals took place over at NASDAQ as short-covering was an important factor yesterday. The A-D Index ended with only 95 net declines – excellent! The P-C ratio was 207% at noon and 166% at the bell. The SOX index was ê 27 and finished é 29-1/2 – impressive! Conclusion: January mutual fund cash was 5.3%. I’ m sure that the February figures will show a good increase in those levels. However, total funds in money market accounts reached a new high. Investors pumped in another $14.6 billion for the week ending 2/21/01. Get this – cash sitting on the sidelines now stands at a total of $2.033 trillion – yes, that’ s right, trillion! Let’ s continue my fantasy life and dream about 25%-30% being put into equities – be still my heart!! After the close, ORCL warned that earnings would be about $0.10 vs expectations of $0.12 – let’ s see if the market spits it out. The VIX rose to 34 and ended at 31 – the 34 level was obviously pretty close to important levels discussed yesterday. The best sequence would be a lower opening that leads to the market rallying later in the day." RJF ,Ralph Bloch