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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (76801)	5/10/2001 7:34:43 PM
From: t2	Respond to of 99985

UF, I think the sell the news reactions are just getting too predictable. The same applies to the positive afterhours news we got yesterday...it was sold today. Even EMC lost ground. One would think that sooner or later it stops working. Since the rate cuts are no longer a big deal, the sell on the news does not happen upon the expected cut. I want to see Nasdaq 2300 before selling some out of the money covered calls. Right now the downside does not appear to be that much, IMHO...again due to money flows. I don't want to give up on the upside. In addition, don't expect to see a lot of profit warnings this quarter since the bars are already set so low. Might get the odd one from Oracle but that is about it, IMHO. Therefore, we could actually see buying ahead of next quarter's earnings as long as the economic conditions do not deteriorate.