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

To: Uncle Frank who wrote (35556)	4/9/2001 3:08:58 PM
From: t2	Read Replies (2) \| Respond to of 65232

Over the years I've know you, you've made a lot of good short term calls. None since summer.<g> Maybe that is why I needed to drop T2.<g> We have all gone through a learning process about overownership by mutual funds and retailer traders of one sector, exhaustion of fund inflows, overvaluation etc... Actually fund flows and less ownvership of tech among the big funds is what makes me more bullish. I can tell you that us permabulls have learned important (and painfull) lessons. Encouraging so far that all of the Thursday gains have not been lost yet. Still time to lose the gains but the end of the tech wreck seems to be near. I am sticking to calling this the bottom in tech even if earnings are lousy. BTW--a quick resolution of the "spy" plane incident would help a little. Considering that the market is not taking this as badly as it did with the election crisis could be another sign that we are nearing a bottom. The implications of further escalation on this is bearish for tech stocks and still the market is holding up reasonably well--a good sign. However, we are still not out of the woods yet for this day.