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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (59511)	5/1/2002 8:27:18 AM
From: t2	Read Replies (3) \| Respond to of 99280

Maria's report about mutual fund cash levels being LOW, a few minutes ago was interesting. (she gets her data from Trimtabs) Cash levels dropped by end of March to pretty low levels (4.8%) down from February. Note the March 2000 levels were 3.7%. The other thing I would note is that by mid April short interest declined in most Nasdaq big caps. So what makes this different from March 2000. Back then we had lots of IPOs draining cash; now we don't. However, back then everyone seemed to pumping their life savings into the market--not anymore! Back then international investors wanted to buy US stocks...not anymore! Lots of Mergers and Acquitions back then....not anymore! Are tech companies buying back a lot of shares now? Don't think so but they still have a lot of insider selling. All these tech executives saying how IT spending has not picked up will dump a lot stock on the market if their stocks are trading on optimism. No can take legal action against these people as well as they will be able to point to all their cautionary statements that investors paid no attention to. If one looks at all the point in total, this seems very negative for the markets going forward. Don't know if that means we get a rally week or not but it does not look good going into summer. This could be the case even if the economy continues to recover.