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

To: Softechie who wrote (68113)	5/16/2002 11:54:27 AM
From: Sully-	Respond to of 99280

11:52 ET Emulex Intraday (EMLX) 30.86 +0.70: -- Technical -- Currently holding towards the session's best levels. Approaching resistance at 31.00 which is followed by subsequent overhead at 31.70. The favorable intraday tone would be placed in question on a failure to hold very near-term support at 30.65.

To: Softechie who wrote (68113)	5/16/2002 12:08:10 PM
From: LTK007	Read Replies (4) \| Respond to of 99280

IMPORTANT POST--Jim Grant (a SUPERIOR market analyst) just supported dead-on all my earlir rantings about Hedge Funds and how they would have major impact on the market that people NEED understand.(this was via CNBC) He states the couple weeks of volatility means NOTHING in the main other than it is massive Hedge Fund churning and flipping and real buying has been minimal. The Hedge Funds are furiously churning because they are under pressure to produce their promised minimum 15% yield for year. He states money going into Hedge Funds has risen quite rapidly to the extent that they can drive with high volume a major one day rally via short-covering alone. For daytraders, as i wrote months ago, this would provide them wild volatility that they could capitalize on if at the job every minute. But i also said this would put forth a lot of major head-fakes. And so on.Max