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

To: LTK007 who wrote (65351)	5/10/2002 1:07:02 PM
From: Mike M	Read Replies (1) \| Respond to of 99280

I suppose there is truth in there somewhere....But what appears to have fueled the recent one day wonder was fear from weak bear hands. This was a quick and dirty short squeeze IMHO. I frankly don't know how collusion works in a market place. Perhaps the PPT has a shadow committee able to goose the market at will. More likely, is that we were significantly oversold at a technical rallying point and, encouraged by some meaningless news re: CSCO, in one day we shot most of our wad. I happen to think that actions like this actually hasten the bottoming process by washing out the bottom fishers and clearing the way for the "flush". Generally speaking the market is going where its going and its just a matter of timing. IMO, Wednesday's rally was too quick (and is pretty much given back) to have as much long term impact as you suggest. I doubt there was a massive step up to the plate from long term investors...