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Strategies & Market Trends : Roger's 1998 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: McNabb Brothers who wrote (16473)	12/28/1998 10:59:00 AM
From: Oeconomicus	Read Replies (2) \| Respond to of 18691

Hank, I agree with you re the upward bias in the internuts and the market, but only for this week. I think that, like last year, there is simply a dearth of sellers this close to year end in stocks with huge gains. I expect a dip next week. After that, who knows? Asia and Brasil are not out of the woods, our manufacturing sectors are weak, we continue to hear of layoffs, and retailers (with an "R" as in bRicks & moRtar) hardly had a booming X-mas. Also, no one can deny the speculative frenzy going on, but did you notice that the short interest in the highest flyers declined sharply in December? Among the internuts, AMZN's dropped a modest 7%, but YHOO's dropped 22% (as did non-internut highflyer DELL), MSPG and ELNK dropped 33% and 42% respectively, XCIT dropped 33%, LCOS dropped 50%. Seems many of us have given up on shorting internuts and I don't think that's very bullish. Regards, Bob