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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: Robert McHale who wrote (734)	1/17/1999 12:39:00 PM
From: bobby beara	Respond to of 3543

Robert, your right, shorting internet stocks is a not a way to make a living. I've made a ton more money long than short, but when you see a blow-off in progress like last Monday thru Tuesday I couldn't resist -g- The intraday high on Tuesday the INX2 was 68% above it's 50 day moving average. It's very rare to see such extension in an index of stocks. Even at the July peak this index was only about 15% above the 50. I don't think the correction is over, the index is still about 45% above the 50 after this pullback, when rubber bands get stretched, they snap back and so will this one, but we may need to get overbought again before another correction. bb