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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Math Junkie who wrote (22445)	8/1/2001 12:33:10 PM
From: Short A. Few	Read Replies (1) \| Respond to of 30051

Level II display sure makes it look like distribution - but I'm no expert. Best, SAF

To: Math Junkie who wrote (22445)	8/1/2001 1:05:25 PM
From: Justa Werkenstiff	Respond to of 30051

Richard: Re: "A couple of minutes ago, with the price at 58.63, I noticed the ask size on KLAC being over 10,000 shares, with the bid size only 700. Distribution? " Maybe distribution to shorts covering <g>. So after the shorts panic, I think you are left with stretched valuations and a highly questionable future and a buying vacuum which means a reversal and a trading range at best. They brought out all the guns this morning and are putting on a rally that is very persuasive. Although I thought they would try again, I did not think it would get this far. Then again, I did not know they would do an all out assault on us. But I think the trend should change any day here. Don't know how low she goes. But too many bulls are too complacent about the market bouncing along the bottom. Just as there were too many bears looking for a big sell off, I think there are too many bulls looking higher here.