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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: GREENLAW4-7 who wrote (51892)	6/1/2001 11:10:42 AM
From: Rande Is	Read Replies (2) \| Respond to of 57584

Nope. When I get stopped out, I move on. Didn't like the way MCLD was getting supported and already moved on from there. How about EMEX? Did you read my report from yesterday? Down another $3 bucks today already. These days. . .going with tighter stops than ever. Hope you are well.

To: GREENLAW4-7 who wrote (51892)	6/1/2001 11:47:46 AM
From: Kanetsu	Read Replies (1) \| Respond to of 57584

Double espresso babble coming.... Tough market, personally I've been treading water for months trying to fade this naz rally unsuccessfully. I still think we are going lower, but understand Moufassa's reasoning completely, and the market loves to climb a wall of worry. But, to paraphrase "just because you are paranoid doesn't mean they are not out to get you." Normally "doom and gloom" goes hand in hand with low stock prices, but the P/E on some of these high fliers are way above historical norms, and many of them are proving to be no different than cyclical capital goods stocks. I think the smart money is realizing that technology stocks might not deserve the p/e premium they have been receiving these past years. It's just going to take a little longer to shake out all the speculators who have nazdaq tunnel vision. Definitely hard to see the forest through the trees with all these sharp rallies and corrections. It makes it hard to execute a long term strategy and still limit risk with stops, especially when market psychology is currently more important than fundamentals. I will predict that we have already seen the high on the nazdaq for the next six months, unless Greenspan really tries to juice it. I'm basically market neutral, long a few (value mutual fund and nvs), short a few high p/e stocks, and 80% cash. Just don't have the confidence to place big bets anymore. The two biggest negatives imo are the slowdown in Europe and Japan, and the Democrats taking over the Senate. (Imagine people with the same mindsight as AS spending your hard earned tax dollars)