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

To: Rich1 who wrote (15624)	5/10/2001 9:20:49 AM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

Could be, I did not expect the ECB to cut rates, that may avert the slow down of Europe here. I lowered cash to 60% by buying positions in the quintet here around 9:00 in premarket (did not get QLGC, it run away from my price, but got SCMR instead) and am going to watch if 2250 get taken out. If it does we could have a fast run to 2388, IMTO. I am not turning bullish yet, but moving a little away from the "dark side", due to the ECB move, which to me was quite a surprise. Zeev

To: Rich1 who wrote (15624)	5/10/2001 10:08:31 AM
From: McNabb Brothers	Respond to of 30051

Rich1, I believe at this time the DOW and more important the S&P 500 breaking out to new highs will pull the NAZ up later, but I don't think to new highs on it for some time to come, meaning years maybe. The longer the S&P 500 and DOW keeps hitting their resistance levels, once they do break to the up side the more powerful the move will be. I would not worry too much if it takes awhile longer to break through. I feel the reason why the S&P and DOW will pull the NAZ up is because we are getting back to the old economy stocks and once these companies really begin to see the light at the end of the tunnel is not a train they will begin to spend more on tech spending which in turn will spill over to the high tech sector which is mostly in the NAZ! Everyone is talking about 2250 on the NAZ, but like I said above the S&P 500 and DOW are much more important for the over all market if and when they break out to the up side. Still selling a few puts here and there and buying some individual issues as well. Two sleeper stocks I have been buying very aggresively are OCPI and FBOC, also like TYC, JNPR, QCOM, NTAP, JDSU, ELON, CHKP, MSFT, DELL, and WCOM. Hank