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

To: 10K a day who wrote (77379)	5/24/2001 9:27:51 AM
From: t2	Respond to of 99985

Short interest on the Nasdaq stocks should be out tonight. We will find out much short sellers were willing to bet against the rally in the Nasdaq. My feeling is that short interest on many key Nasdaq stocks increased significantly. The political events have no doubt caused the selloff yesterday. Otherwise upgrades of Micron and Dell after the close Tuesday should have given a big pop to the Nasdaq yesterday. Microsoft was much higher afterhours Tuesday as well. Now the question is, will the momentum upward resume. I believe it will as long as there is quick resolution to this political event. Just don't want see the change in power dragging out for more than a few days. At least techs should do well even with a Dem. controlled Senate. Techs should now get a bigger chunk of fund flows as there is uncertainty created around drugs and maybe some energy sectors. The big funds like Janus, Fidelity had been getting away from tech recently..and one can bet they were probably getting overweighted drugs, energy.