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

To: eichler who wrote (79239)	6/26/2001 12:35:26 PM
From: t2	Read Replies (2) \| Respond to of 99985

I bought up stock and some call options this morning on Intel and some Micron. Also continued my buying of stocks in beaten up names. Bought into NTAP, MCDT, RFMD, GX, NITE, CLS, FDRY....looking at AGIL, EXTR, EMC (to add more). Might also start considering the other names that names that are hitting multiyear lows...SBC, VOD. The ones that are hitting the 2001 lows or getting close in the list above are my favs.. NTAP is a good one, imho. Looking for a rebound to get it to 15 or so in the next 2 weeks. A rebound will also confirm my belief that mutual fund window dressing is getting more significant this year. Will wait and see. Most of my call option buying was in Intel. The dip in the morning created the buying opportunity to get in for the probable rebound early July in those other names. Still not finished buying yet...Looking for 1 or 2 more dips this week to buy some cheap calls. Hoping for more weakness for about 2 days. Not really trying to catch the bottom..just trying to average out my cost ahead of next week...This week or next week is when I expect the march upward on the Naz will begin (imho). Not going to try to pick the exact day and I have no need to do that given my strategy is focussed on where I believe the Nasdaq will be by Mid-July. Eichler, I closed out my shorts on energy stocks. Still keeping my eye on the sector to short any rally. Good idea to sit out the market until you get your buy signals. My strategy is basically to position myself now .... and sell by mid July. I don't plan to trade much in the meantime...unless I get the odd daytrading opportunity on stocks that issue profit warnings...like AMCC this morning. Best of Luck. BTW--did you by chance try daytrading EXDS..I thought about it but missed the opportunity..got too focussed in other areas. I am still working on my exit strategy...don't have one yet. Don't feel the need to get one given the Naz is close to 2000....that might be a big gamble but I am used to taking some risks.<g>