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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Killswitch who wrote (10841)	10/15/2002 11:46:30 AM
From: Killswitch	Read Replies (1) \| Respond to of 30712

"Bryan McCormick Long Squeeze? 10/15/02 11:28 AM EDT Doug, think this is a "long squeeze". Some names were surely "crawling" (YHOO of all things) while others I think have had little interest of any kind. Heck of a lot of this has been futures and very narrow focus in the big names. Maybe I'm cranky, but that smells to me. The only reason I am suggesting it is this and not a short squeeze is the time of year, the large number of sellers who stepped aside or turned bullish (not criticizing, just noting it) and the need to perform. Lots of folks were set to go long on this one. The banks have sure been cooperating with a lot of well-placed upgrades as well in the conspicuously big names. Names that only a few weeks ago some of the very same houses were slicing into so much fresh fish (bear trap?). And we surely have thrashed in between these extremes. The market has gotten overly emotional here in both directions. The fact that longs appear not to have taken profits made me think for a sec it was cover as well. But what if, as a reader at a bank noted, it is under performing longs going for broke and swinging at the fences because at this stage they have nothing but their management fees to lose? That's oddly a danger to both of the clans. Bear in mind I am focused largely on index plays here. It's just what I do, two sided. What I am seeing I don't like. Some names and sectors advance and even expand ranges while the index itself remains relatively static. It's a growing potential negative divergence. Watching these oddly low trin numbers and not liking it. Long QQQ puts"