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To: niceguy767 who wrote (55988)9/21/2001 9:56:16 AM
From: fp_scientistRead Replies (1) | Respond to of 275872
 
NG,

Some firms increased equity allocation today ... BofA going from 60 to 65% ... saying that downside and upside don't look similar ... Also heard that we are currently more oversold than in '87 and '29. MSDW had a large sell program at the opening. Once they are thru, we could see a rebound ... triple witching will make things volatile and a short covering rally is not out of the question ...

fp



To: niceguy767 who wrote (55988)9/21/2001 11:17:13 AM
From: Jim McMannisRead Replies (2) | Respond to of 275872
 
NG,
RE:"Not a chance...Smart money is accumulating...Once thru this patch, a wave of panic buying cannot be ruled out once it becomes clear that the bottom is in, a wave of buying that ushers in a Nas of 2000 plus...Could happen anytime..."

It did appear we saw some institutional buying on the bounce this morning but now we are back down...it's a start though...

Jim


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