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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (8167)	11/16/1997 7:25:00 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 18056

Zeev, it was a combination of both, oversold condition, shorts covering and anticipated "exciting" news to come from COMDEX in Las Vegas this week. I noticed that regardless how meaningless the news are in the high tech sector, the stock jumps as most traders on WS do not know anything about high tech and just buy as the news sound positive. BTW the NIKKEY - gap open to the upside and is trading up about 200 points. Happy trading Haim

To: Zeev Hed who wrote (8167)	11/17/1997 2:13:00 AM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 18056

Zeev, re "Think this side is running outt of ammo quite rapidly, so the only good source for good rallies are the gutless." Zeev, much as I respect your understandings of the financial markets, I have to say you're letting your ego jump to conclusions here. Why on earth would you conclude that Bears have more cash available than Bulls? Where is the logic? Actually I think it's the other way around. With the relentless downward drift of the market since Aug highs, the people I communicate with most who are dyed-in-the-wool bulls have never been more cautious -- this means they are keeping an abnormally high % of cash on hand. Also, if you have read anecdotal reports on what fund managers did on Oct 27-28th, you would know that they only committed a moderate portion of cash reserves to buy bargain priced stocks. The fact that the conventional wisdom was that the market would "retest the lows", tells you that most investors are conserving cash for this opportunity. re "but somehow, the locical conclusion failed to ensue" Perhaps you do not have the correct conclusion? The game is never over, it keeps on going, but I covered my DJX short at 7400. There were a couple of simple reasons why I believed that was an interim bottom, so I also reversed course and went long. For me the idea is to make money, not to preside over the demise of the stock market. Objectivity is the key, Zeev, and unfounded conclusions generally indicate (going by my own experiences) that I am beginning to try to prove the market is wrong. Don't mean to sound preachy but come on. Certainly my own portfolio has suffered since August, but $ wise, I keep more cash on hand now than in Aug - as do most people I communicate with. Good trading, DK