To: Johnny Canuck who wrote (35965 ) 1/22/2002 11:00:05 PM From: Johnny Canuck Respond to of 69299 [madtrader] Tue Jan 22, 7:26pm PST TTWO Hey! Wouldn't you know it, I suggested this morning that TTWO is a potential short on accounting issues. And they are supposed to do their earnings after the market today. Guess what? They are delaying it, more or less saying their auditors, Price Waterhouse Coopers is guyshy about their previous work. And won't signoff on their current audit in part based on increasing public scrutiny on those issues. I would take this as a sign of guilt. none. [madtrader] Tue Jan 22, 5:38pm PST TV New high since September, but closed on the low. Thus shaping up a clear bearish engulfing on candlestick. Time to step aside if you are long. If you are aggressive, time to go short. none. Register for our newsletter [madtrader] Tue Jan 22, 5:10pm PST Techs Just heard talking heads on CNBC telling viewers that the trade this year is to trade away from tech stocks and into mundane small and mid cap names. Of course, due to the valuation. If you are an intermediate term trader, someone holding positions from 3 to 6 months, it might be the trade to make. And you probably are one month too late for the move already. But for the rest of the year? What are these people smoking? Techs have showned the best relative strength since the September lows. I am not suggesting we will see a come back of the hold highflyers as the new leaders. But relative strength is the market's message that there will be a dramatic turn around in techs fortunes. I am going to single out several tech areas that is indeed lacking relative strength, areas such as telecom, wireless, and fiber optics. The highest relative strength by far are dotcom related. I am willing to go so far to say, when this correction is done and over with, the picking should be in dotcom land. none. [madtrader] Tue Jan 22, 5:05pm PST EMC SUNW MCDT QLGC EMLX BRCD NTAP All these storage related names have one thing in common in today's trading. They all have bearish engulfing evident on their daily candlesticks. Not speaking well for the group. EMLX did their numbers in afterhours suggesting indeed things have turned. So did the stock. I still recall recommanding it as a long play in the week of Sept 27th when it was $10, I believe it traded as high as $50 in the past few weeks. So, we are certainly selling into news right now. The big question is where are these names going to stablize. none.