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

To: William Hunt who wrote (77599)	5/30/2001 11:08:29 AM
From: American Spirit	Read Replies (1) \| Respond to of 99985

Almost total negative sentiment in techs today. Usually, days like this turn out to be the best days to buy. Human nature though attracts shorts at the bottom and selling by weak hands, therefore fear can rule. As estimates are cut one can assume everything is being priced in as we speak. Or has already been priced in. Therefore, today looks like a great buying opportunity in many tech stocks. (Unless of course tomorrow is a better buying opportunity. gg) I'm betting two third of my chips today trying to catch bottoms. I'll hold onto some cash just in case there's one more step down. Worst case I'll hold on for the inevitable bargain-hunting and change in the spin. The spin always changes. Having just come back from Europe I can tell you tech is booming over there, internet ramping-up everywhere and 90% of the population on wireless phones. I had to get a phone card at a NOK store and had to wait a half hour in line even though they had four salespeople. Too many customers. The Y generation will be a 90% wired generation and that in itself provides growth despite any short-term slowdown period.