Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Uncle Frank who wrote (77391)	5/24/2001 12:18:15 PM
From: SecularBull	Respond to of 99985

I am not technically short. I raised cash by flipping some of my LT positions with the desire to buy back lower. I am "short" 50% of NTAP and ITWO holdings from near or about the recent highs. ~SB~

To: Uncle Frank who wrote (77391)	5/24/2001 1:23:00 PM
From: t2	Respond to of 99985

Uncle Frank, I think this political change is positive for technology stocks. There has been a rush to make money in energy stocks (myself included---ouch!). Techs will become relatively more attractive for any new buys among mutual funds. You can bet that those wanting to buy energy stocks will be looking for lower prices and some with huge profits may be getting a little jittery. Creates a big of downward momentum. However, gridlock may be good for drug stocks; that is how I see it. The big winners should still be tech. The uncertainty created over this political situation has stopped the Nasdaq's upward march. Of course it creates hesistation among buyers..and maybe even get some hedge funds to short the market, thinking this is November all over again (florida chads). I am expecting those expecting this to happen to suddenly reverse course. That is why I am still betting on the momentum returning to the Nasdaq, even in a period that normally is a bit slow---news vacuum/ profit warnings. However, it should be different this time as funds are underweight tech and overweight energy...and they may have some trading to do.<g> To me, today is going to be the test. If the Nasdaq can pull out a gain, the march to Nasdaq 2800 should resume. Otherwise, we might have to wait a day or two for the downward momentum to run its course. BTW--MSFT is unbelievable. Even yesterday, when the Naz was down 40 points in the morning, MSFT was up 1% or so. It only dropped very late in the day. Just shows how much demand there is for this stock. Also expecting Cisco to help the Nasdaq along as well..taking a day or two pause, IMHO. JNPR is in trouble,imho. I was suggesting a short JNPR and long Cisco trade last week; that one would have paid off pretty well. It just reflects how the big gorillas are coming back to life. EDIT: just noted that the GOP Senate leaders will not put up any fight as Allan Murray (cnbc) had hypothesized this morning...which was a suprising angle but one that concerned me for its possible effects on the market. That is good news. That takes out more uncertainty.