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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: j g cordes who wrote (33777)	8/26/2001 10:34:53 AM
From: Clint E.	Read Replies (2) \| Respond to of 68384

Jim, to answer your question, No. I was very busy on Friday, even after staying at work until 2AM the night before. Ironically enough, I was working on something related to the same company that was making news!!!... I think what Cisco did is positive because mentality of CEOs have become like traders (information age phenomena). They've been hearing about other companies doing poorly for so long that they have been afraid to spend, and are still looking at cutting cost. It has become a vicious cycle as they cut cost (travel, spending on new equipment, software, etc) and cause further slide in the economy. The news helped the NASDAQ to stabilize ~1800 and then push above 1900, partly due to some short-covering. I don't think the rally would last too long unless we get more good news.