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

To: Rich1 who wrote (16038)	5/18/2001 8:02:14 AM
From: Mark Johnson	Read Replies (2) \| Respond to of 30051

Rich: Wolanchuck has been a vlnc bull for many years and Larry can't stand it....Larry absolutely sees red when anyone mentions dacheif.....Heck, Zeev was predicting $55 a share for Valence last year....go figure....?.....

To: Rich1 who wrote (16038)	5/18/2001 8:16:25 AM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

Rich, some observations. For this rally to continue, we need to see more breakouts above the mid April highs in individual stocks. So far, in my semi-equips sub groups, only VECO printed a price higher than the mid April high, and in the quintet, only QLGC did. I expect many more will, if this rally is "for real", but if those mid April highs are not vanquished soon, then despite the excellent behavior of the S&P and the Dow, I will return to a more cautious stance and reduce exposure from 80% plus equities to the 50% or even lower level. Similarly, in the biotech, only two of those I am in (or follow) have exceeded the mid April highs (AMGN and IMCL), but for instance, both CRA and QLTI are still lagging. Right now, I am waiting for those new recovery highs in the quintet, the semi equips, and the like of MERQ (close) and BEAS (still some way to go...). Zeev