Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (45511)	8/6/2001 6:31:12 PM
From: ajtj99	Respond to of 56537

Max, I don't believe we'll have too much short covering in the event of a CSCO surprise as we had a big short covering run last week. If there are any new shorts, they only positioned under 2100, and that is pretty strong resistance. It's a little different when you have a rally after a drop of 150-200 points than one from a drop of say 75-points, IMO. My guess is that Chambers backs off any recovery for this year and says business should pick up in the 1st & 2nd quarter of 2001. I'd be curious to know if they do a big goodwill writeoff like JNPR did. That would really shake things up, but it would be consistent with the "get the bad news out of the way" theory. I think this is the wrong week for a rally on CSCO's comments, but we'll have to wait and see. Nice tape painting today. NDX finished a tad over 1700, and SPX stopped at 1200. Extremely low volume today. They should have given everyone the day off, since hardly anyone participated.