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

To: pompsander who wrote (16317)	5/22/2001 11:49:12 AM
From: Jeff Guy	Read Replies (1) \| Respond to of 30051

Lets see how far this little swoon takes us.

To: pompsander who wrote (16317)	5/22/2001 11:56:40 AM
From: Jdaasoc	Respond to of 30051

pompsander: I like Zeev have been reducing exposure to long positions starting yesterday. You know I was very bullish right after rate cut which was validated by rise next day. Now it looks like rally will not last into 6 th day. I usually use 11:30 AM as a good snapshot of how the market will behave the rest of day. We were down at 11:30 today as contrasted to being up the previous 5 sessions. Sounds like a little bit of profit taking, retracement whatever you want to call it. I like Mr. Kohn fear these valuations and am looking very carefully at the degree of pullback from this rapid rise. Can you tell me what makes this latest rise any different then AUG 00 and Jan 01 moonshots followed by even more impressive retreats except for intervening interest rate cuts. If this market doesn't give up 50% or more if its recent gain in next 2 weeks, I will be willing follow it however higher it wants to go with less reservations. john