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To: Bocor who wrote (137732)	12/8/2001 6:49:12 AM
From: sun-tzu	Respond to of 436258

sorry about that...he explained the rally off the september lows as consisting of two parts. the first being a snapback from an oversold low secondary to a one-sided tape containing an overwhelming majority of shorts. the second part consisting of performance anxiety as funds scrambled to meet investor expectations. he alluded to a continuation of part two and said that this run has nothing to do with the market factoring in an end to the recession. while he did state that the market does anticipate an upswing in economic activity in the 6-9 month time frame, he felt that it's current position would continue to be guided by the complex millieu of variables with fund performance in the lead role.