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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Michael L. who wrote (41852)	5/25/1999 8:12:00 PM
From: Jenna	Read Replies (2) \| Respond to of 120523

Hope versus the actual facts. I think traders didn't short exactly on time, because deep down they were expecting a reversal. Its like being in denial, especially when you are in a long position or contemplating getting into one. And when everyone is using the word 'bottoming' you are not thinking about what is in front of your eyes but that others are expecting to go long and you don't want to go against the prevailing hope that NITE, SWS or AOL or whatever rebounds. Its ironic however because while you are 'joining the pack' and holding on to the prevailing hope you are denying the actual trend of the stock. That is what I did the first third of the day.