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Strategies & Market Trends : Drillbits & Bottlerockets -- Ignore unavailable to you. Want to Upgrade?

To: HG who wrote (12108)	5/18/2001 3:18:25 AM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 15481

No, I haven't followed Jan. Right now, I am not doing a lot of active trading. I am accumulating for longer term positions.

To: HG who wrote (12108)	5/18/2001 3:22:25 AM
From: Augustus Gloop	Read Replies (1) \| Respond to of 15481

Folks, we need to break 2200 and hold it or IMO we move back into the 2050-2075 range. I think what we are seeing is an odd type of capitulation. Instead of a stampede that drives the market down with volume and huge % drops - we are seeing people (retail) exit positions that have had a little run. Remember, just a few short weeks ago they would have been glad to get out with their skin. Now they view this as a good exit point. But there is another side. I think the institutions (and I have no proof of this) are sucking up these shares and thus draining the supply of stock on the open market. As soon as we cycle through this (and it may take some time) much of the stock will be back in the deep pockets of the institutions. I expect that soon thereafter the fed will cut rates again (before the june meeting MAYBE) and that will give way to a decent pop. Supply will be low, shorts will be forced to cover and the big boys will be the beneficiaries of a small squeeze. The key here is energy. That is the one variable that I just can't address. But if we can skate by without too many disruptions I expect we start to rally and breakout near the end of may. JMHO