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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	5/30/2001 1:35:59 PM
From: besttrader	of 37746

13:30 ET Dow -124, Nasdaq -89, S&P -17.62: [BRIEFING.COM] Many investors had been worried that upcoming earnings warnings might put an end to the recent strength in equities. Today's severe sell pressure helps explain that general sentiment. Earnings warnings can come at any time but the frequency of releases should pick up in mid-June. In many cases, it won't be the current quarter warning that influences sentiment but reports of the outlook going forward which have the potential to cause concern. If investors begin to sense that a trough in the economy is further out than two or three quarters, another leg down for the markets is a distinct possibility. It's also worth mentioning however, that investors tend to overweight immediately present information. Today's worries over SUNW have a hold on today's sentiment, but whether SUNW marks the beginning of a trend remains to be seen. Spotty buy interest is evident among selected issues in financials, retail, consumer goods, and drugs. DJTA -0.6%... DJUA +0.1%... SOX -6.0%... XOI -0.3%... BTK -3.0%... Nasdaq 100 -4.8%... S&P Midcap 400 -1.7%... Russell 2000 -1.3%... NYSE Adv/Dec 1104/1801... Nasdaq Adv/Dec 928/2644.

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