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To: chic_hearne who wrote (84531)	3/23/2001 5:37:01 AM
From: KeepItSimple	Read Replies (1) \| Respond to of 436258

It's pretty clear that for the next week at least, we're going to experience a V bottom in both the dung and the dow. People have huge tax bills, and just like last year they're going to speculate until the last second hoping to make their tax money generate a little extra wealth before handing it over. The big brokerages know this, and they're going to fan the fires with every tape painting trick they know- after all they have inventory to unload as well. As of today's close I am long calls on MSFT/CSCO/INTC/RMBS and especially CIEN. I mean I am REALLY overweighted in CIEN. That one held up the best, besides microsoft, in the previous collapse, and that means it will bounce the hardest and fastest. I don't see myself placing any shorts of any kind for the next couple weeks. Not even hedges. There just isnt any downside risk right now. Too many forces need the market higher. The brokerages, the banks, the fed, and the individual investors. I'm not going to be a hero and try to tell the american public that McDonald's food sucks in every possible way, or that Tim Allen's Tool Time didn't deserve to be the number one rated TV show for 3 years, nor am I going to tell them RIMM doesnt deserve a P/E of 8000. Give the public what they want. Bread, circuses, and stock certificates. Fast food, analyst freakshows, and lottery tickets. No difference. I don't think there is anyone of any consequence still short anyway. Commercial shorts are practically non existant, and the put call ratio is absolutely gleefully long.

To: chic_hearne who wrote (84531)	3/23/2001 6:26:24 AM
From: AllansAlias	Read Replies (2) \| Respond to of 436258

Yes, what else could you call it but paint taping. (Don't edit that message.) -vbg Seriously, it is an argument for follow-through in my opinion when you get this manner of intraday sticks on high volume. The rotation is less of a concern, as that in the end is not strength. As for the DOW and friends tanking, well, they have. Down needs up to get going and we'll probably get a little here. Call it at lest a technical bounce from oversold levels. As we discussed yesterday, the levels that they bounced from were predictable -- even we were able to predict it -g.