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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Tiley who wrote (15847)	5/5/1998 7:25:00 PM
From: Clint E.	Respond to of 68168

Manish; Obviously, we need to wait on CSCO's CC notes...but in general I think we should hold back from shorting stocks tomorrow. The time to have shorted stocks for a quick scalp was yesterday(NAZ at 1890) and this morning when we opened weak. Believe it or not, I like this week's trading pattern so far and I won't be surprised to see us higher by Friday. Assuming we have no surprises taking place over night, I think that after some confusion at the open tomorrow, NAZ could easily extend higher by the close. Since the overall market will be occupied with Friday's job data and Greenspan's speech on Thurs., I am not sure of the extent of this rise. NAZ and DOW could easily diverge tomorrow, where DOW could be flat and NAZ up. I agree that Networkers are uneventful. They have been too stable to short. SW stocks are more fun to short these days since they are more volatile. The net stocks too but they are somewhat tricky. For now you know what I think. I'll watch the open tomorrow as NAZ will be taking another test(!) and if I see something different, I would let you know. Clint