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

To: American Spirit who wrote (79675)	7/7/2001 8:21:36 PM
From: mishedlo	Read Replies (4) \| Respond to of 99985

52 week lows on CIEN and JNPR are not a sign of strength. In the meantime we are hundreds of points higher than the NAZ bottom on the strength of MSFT NVDA QCOM and a bunch of stupid bios. If MSFT INTC and CSCO go down they will take the whole market down with it. MSFT is showing signs of breaking down right now. All that talk about openening up at 80 after it was halted was a sure sure sign of greedy bulls IMHO. We either stick in a trading range for some time or we go down for a retest of the bottom. The market is not going higher on crap like this IMHO. Unfortunately if you are playing CIEN JNPR NTAP or EMC they seem ready and willing to hit lower lows. Perhaps way lower lows. What will happen to the whole market if CIEN guides lower after saying forever that everything is fine? What if IBM misses. Will the market shrug this off. I do not think so. After someone has warned 5 times like CSCO, it is easy to ignore. But when one of these guys warn, or someone like EMC lies a week ago and "sees" increasing orders then this is what happens. My guess is they had a huge last minute cancellation that they were counting on (or they are just plain liars or both). CIEN is telling a big fat one IMHO. The entire sector in the crapper and everthing at CIEN is fine. I do not buy it. There were some real shockers for me. The plunge in IRF (a solid company IMHO) when we have real garbage like HOMS and ROOM making new highs or at the top of ranges. This sould tell everyone that there just is too much gambling going on. This kind of optimism on total crap will not be found at the real bottom) which I do not think we will hit this year. VRSN is another total joke. Proper evaluation is about $5 and here it is at 50. M