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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Eric who wrote (55478)	9/19/2001 2:58:47 PM
From: Stock Farmer	Read Replies (3) \| Respond to of 77400

Eric: Do you remember May '00? The first slide of 5% or so. Three days later the margin call slide. Secondary shocks 3 days later. First to get hit were the techs. Then the value. Smells similar to me. Looks like we are seeing the effects of massive forced redemption, in parallel with unforced redemption. And this time AG is really pumping. And we have a lot of just overt propping going on this time. But the latest Feds Funds rate reduction, plus the anticipated 75 basis points to come means that it is no longer profitable to borrow Yen, bank US$ and buy puts on the exchange as a hedge (e.g. a guaranteed profit). Hence an unwinding. Yikes. I think there is going to be some crushing going on. We will stabilize maybe for a couple of days, but monday could be a big down day as well, with aftershocks into mid next week. Add to that overt and massive liquidity, dangerous to short too. Butt Ugly. FWIW. John.