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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: mattie who wrote (32041)	4/19/2001 7:28:54 PM
From: j g cordes	Read Replies (3) \| Respond to of 70550

Mattie, (down tomorrow?) this rally is one of the strongest I've ever seen and has overshot all of my short term expectations. AMCC, PMCC, EBAY.. wow! Eight days up in a row is pushing the historical odds envelope.. I think nine days and its 260:1 of going up again for a 10th. There has to be some short covering in here that's driving this with such energy. I'm not sure if we're going to see all stocks rise in the future with the same vigor if they haven't done so already because if the heavies like MSFT, AMCC, EBAY, MU, IBM.. etc, which have had a good run, stop and reverse then it may pull any momentum from most techs including those that haven't yet jumped (except for a few that are still under a cloud of doom that proves false). I hope I'm wrong but this enthusiasm is extreme given the time horizon for seeing tangible revenue changes. A last note.. most of the Fed cuts have seen a small drop after the cut. We obviously didn't on this one, but all of the last four cuts saw a down market within 10 days. I'm guessing if we have a rally in the morning we close down. Jim