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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Paul V. who wrote (51296)	8/30/2001 5:09:47 PM
From: Sam Citron	Respond to of 70976

"we may see a stock rotation in technology since there lows EPS have bee in the ptts." Could you rephrase this in English please?

To: Paul V. who wrote (51296)	8/30/2001 8:24:15 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 70976

re: I would hate to be shorting when the turn around occurs. Some will loose their A__ and never recover. Short positions are at a high level now. I'd expect short positions to peak as the market troughs, just as long positions and leverage peaked as the market peaked did last year. I sold my last short position (QCOM puts) today. From here on down, I'll only initiate long positions, in widely-spaced increments. Below 2K on the Nas, is not a good place to be initiating or holding short positions on techs, IMO. Especially since we've bounced repeatedly in this area, (1600-2000) over the last 8 months.