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Strategies & Market Trends : Classic TA Workplace
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To: Shack who wrote (29674)1/30/2002 11:54:27 AM
From: GraceZ   of 209892
 
DIIK, I only profess to know what people are doing, not what they are going to do. -g-

From a fundamental stand point the big non-techs are seriously over valued given the debt and slow growth. They stayed that way because money managers have been working from the perception that they were a safe place to park money. That perception is no longer operational.

ST in the next few days, I'd expect some bounce in the hardest hit but trying to play it (except on a VERY short leash) may be hazardous to your wealth. As was in evidence when the Naz came off its highs in 2000, big money managers don't have a problem dumping into a decline if they stayed at the party too long and didn't have a chance to distribute their shares in a rally. When both the public and the institutions are in panic selling mode, there's really only one direction for it to go.
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