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

To: bobby beara who wrote (76808)	5/10/2001 8:44:19 PM
From: High-Tech East	Read Replies (1) \| Respond to of 99985

THE MARKET RAP by William A. Fleckenstein 06:00 PM 05\|10\|2001 ... "Cliff Notes" From Sun Microsystems As the Rap winds down, I'd like to offer a public service announcement for bottom watchers and bottom callers: Cast away your night scopes and megaphones. Scott McNealy, the head of Sun Microsystems (SUNW), is talking, and he's got something you ought to hear: "People are claiming that they're seeing the bottom. I don't know where they're getting that data. They certainly didn't see the cliff, so how in the world can they see the bottom?" My response? A-plus in geography and common sense. Now I'd like to embellish his insights on the bottom with some thoughts on the top (of the rally). Halfway through the month of May, we are now seeing speculation budding right up there with the petunias. Indeed, my number one over-the-counter dealer who keeps me clued in about what's going on says that there has been a resurgence of day traders and that the chat rooms are once again getting crowded. These signs alone are not sufficient indicators of the end of the rally, but they are certainly prerequisite for it. ...