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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (14314)	4/10/2001 9:36:50 PM
From: Rich1	Read Replies (2) \| Respond to of 30051

Thanks...I think I will take the profit in the morning if its still there...<g> My cycle guy thinks we hit the high today at 1861..and shows 2 highs on S&P one at 1175 cash and aother at 1191 cash. He has another low coming the 16th..

To: Zeev Hed who wrote (14314)	4/10/2001 9:43:37 PM
From: ajtj99	Read Replies (1) \| Respond to of 30051

China spy plane episode may be gearing up for a dramatic Easter release of the 24-airmen, IMO. The release would give the Chinese maximum PR goodwill, and would play exceptionally well with the American public. Bush's popularity would soar with the great photo ops. If this happens, it would play into the turnips' scenario of the Nasdaq hitting it's top around April 18 (plus or minus 1-or-2 days?). I would expect a massive rally on Monday, followed by a dose of reality shortly afterwards. The SOXX is the key. It has to get past 530 to at least 575 if this is to happen. I was trying to unload QQQ April 39 calls just before close (in fact, I thought my account said Executed at $2.40), but it seems I will live to hold another day. I was hoping to buy back at a discount in the morning based on the possible (now confirmed) terrible earnings from MOT. When the COMP had trouble getting past 1875, it slowed the QQQ down too. I was looking to sell if the QQQ got to 41.40, as that would be a near the short term resistance. As you've said, the SOXX is a key to this rally. If it stops at 529, we're probably not going too much farther.

To: Zeev Hed who wrote (14314)	4/11/2001 4:42:16 AM
From: Crossy	Respond to of 30051

Zeev, I have a question regarding a "FUNDAMENTAL" conjecture. You might say it's misplaced on a trading thread. I nonetheless would like to raise it. Regarding networking stocks. After making up my mind for weeks, I finally arrived at the conclusion that NETWORKING stocks involved more at the edge of the network (Ethernet-1G, 10G, edge routers etc..) should fare quite good at the current climate and they should have reached a bottom: FDRY, CSCO, COMS, JNPR, EXTR, FFIV, maybe also MRVC Why ? Because they mostly sell not only to ISPs but also to corporate clients. Now we do know that long haul telecom gear is very weak regarding revenues right now (see revenue / earnings warnings of NTPA, SCMR, RBAK, NT, LU) but when I tuned in to FDRY then their revenues are just down 13% from the consensus and they will be profitable in the current environment. This made me think that this is the segment to bank on now and I increased my position in FDRY yesterday. What do you think about this ?? best wishes CROSSY