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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (37362)	4/29/1999 6:19:00 PM
From: Bonnie Bear	Read Replies (1) \| Respond to of 86076

big money moved into utility stocks today....this will easily keep the index supported for a long time...all the big boyz have to do is point out that utilities are internet stocks because computers can't run without electricity. (uhhh-duhh---really???);-) ROFL

To: yard_man who wrote (37362)	4/29/1999 6:43:00 PM
From: Cynic 2005	Read Replies (2) \| Respond to of 86076

<<Why shake the shorts tomorrow? -- thought we'd already been through that once or twice now >> One good sign I have noticed today is that there wasn't much gloating by whatever bears that are left. Second, amazingly there are hardly any bears on AMZN thread. Seems to me that almost everyone is convinced about a return to status quo as the "don't panic, don't panic, don't panic, don't panic, don't panic, don't panic, don't panic, don't panic, don't panic, don't panic" mantra has been uttered by the mo-mo bulls for about two days. AMZN may have sucked wind, see EBAY reversed from previous breakout and RNWK does well on "a series of announcements to be made on Monday." Come tomorrow morning, the excitement will be back and the fact that no serious damage appears to be done in today's trading will make the mo-mo bulls venture to dig in to more margin in the morning at the same time, final panic should reign the bears. Unfortunately some of them might have got in today in the likes of AMAT. The AMAT bulls have a way of squeezing shorts. You may have noticed this also - these things (letting shorts in and squeezing them soon after) took some time to develop up until late last year. But in 1999, squeezing the shorts has become an hourly routine, IMO. i.e., if a stock lets some air, the mo-mo traders and the Vinik agents are converging fast on to those issues to exert a squeeze. I suspect today would have let some of those "I got laid of so I am a day-trader, I go long and I go short so I don't lose" types. Potential squeeze targets (from my list) for tomorrow: AMAT, WCOM, AMZN, AOL, GTW, NSOL, SUNW. And, Ken calls the shorts a bunch of vultures! I guess he doesn't know about Vinik! -g- Anyhow, what is different now is that not only shorts are getting thinner and thinner, but the remaining few are getting mindful of the fast squeezes. It looks to me, as though, a lot of stocks have already established a down trend and are down about 10-15%. It is about time the ones with weak fundamentals be "broken." Besides, no new money appears to come in to the market, They have to rob MythMan to pay Engel, literally! -g- Not much more "good" news is expected in the next few weeks, (ex. CSCO, HWP and DELL) So it is time to cash some chips, which I belive is already going on! The trigger for a serious decline, this time, may very well be profit taking. As sale of 100 share is causing a multi point declie in fairly "liquid" stocks, I expect even a moderate profit taking to generate a lot of margin calls, which should cause the market leaders (like AMZN, EBAY etc) to stage a severe retreat, which, in turn will wreck havoc to the market sentiment (as Bill Meehan says.) Wishful thinking, may be. Illogical - not! We shall see!