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My gut feel on the open this morning was that the shorts re-established at
the 1180 resistance area Tuesday and were run out by the early rally.
However, it was not hard to make money on the short side early on today.
Could be a battle shaping up here.
Earl
----- Original Message -----
From: "Ira Tunik" <irat@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, April 11, 2001 2:43 PM
Subject: Re: [RT] Fundamentally speaking
> Are they plowing back in or just covering shorts? For the complete
optimist,
> could this be a break away gap? Ira.
>
> BobsKC wrote:
>
> > I'm a fundamentalist and what bothers me about this move up has been the
> > plowing back into the same old standby large caps on the NAS like they
> > think they're gong back to old highs and they're going to miss it. An
> > example is AMAT up $5-6 today and strongly up the past few
> > days. Fundamentals have not improved for chip makers but they're
pouring
> > into them anyway. These moves can not be sustained and they are setting
> > things up for a large set back. Should we *ever* see money flow across
the
> > board into mid-caps and lower beta stocks, I'll be ready to plow in with
em
> > but until then, I'm more interested in shorting these "blasts" up than
> > trying to participate in them. Buying lower volume stocks will be my
> > indication that a move has courage and sustainable action.
> >
> > Bob
> >
> >
> > To unsubscribe from this group, send an email to:
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> >
> >
> >
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>
>
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