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Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (11420)	5/8/2002 5:54:34 PM
From: techanalyst1	Read Replies (2) \| Respond to of 57684

Scott, vxn has been overbought for a couple of days. The indexes and stocks have been oversold too. I think I wrote that a couple times. Shorts always overstay their welcome.... why I have no idea. For most stocks, shorting is a trade, so why they don't cover when stocks are down big is beyond me. What I see: the stocks that were up big today were either very oversold (almost everything is in that category) or were the ones that held up the best and the ones with high short positions. I still don't think we'll break out to new highs and I still think that some stocks are going to see lower lows. To go higher we need followup buying and we need the sellers to quit selling into rallies. Who knows for sure if we'll get that? Not me... but it sure is nice to see my techs up so nicely today. TA