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To: MoneyMade who wrote (57679)2/22/1999 10:46:00 PM
From: Logistics  Respond to of 119973
 
Cramer usually annoys me but this commentary is great::

Authentic Wall Street
Gibberish
By James J. Cramer

2/22/99 4:54 PM ET

The noose tightens. Your eyes bulge. Your tongue
dangles. Your feet sway. Yep, you are short the NDX
and the Net and a day like today happens. They
should force short-sellers to wear loafers and no belts
on days like today. Just way too tempting.

We are going to hear a lot about what caused this
rally. An absence of sellers, one talking head said.
Another said less of a fear that Greenspan will kibosh
the market. A positive G7 meeting, still one more said.

Wrong!

Somebody was short and he capitulated. Others must
have known it and piled on. In the meantime, some
mutual funds, which had been on the sidelines, came
in very aggressively when the shorts started covering.

You will now hear that the market went up on light
volume and therefore it is not that important. OK, fine.
But it went down on light volume and nobody said
"don't worry." In fact, some of the very same people
who scared us into believing the world was ending
because of the light-volume selling are now saying
that this rally doesn't count because there wasn't real
buying.

Forget for a second that this is all authentic Wall
Street gibberish.

What happens tomorrow if the volume grows and the
market goes up? Do these nattering nabobs of
negativism tell us to buy it Wednesday? And will
Ralph Acampora use his Net chat to rescind his bear
call? Or has enough time past that his call doesn't
matter any more and everyone has forgotten. Gotta
send some people some real nasty emails.

------

Previous




To: MoneyMade who wrote (57679)2/22/1999 10:54:00 PM
From: QuietWon  Read Replies (1) | Respond to of 119973
 
PAIR sure folded today. GENE good tho, as at conference starting Tues - could be interesting as they mentioned a little while back about the conference.

Also, they have Scherring Plough as large partner.

And they have achieved Milestone dates on asthma
biz.yahoo.com

QW