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Strategies & Market Trends : Sharck Soup

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To: Softechie who wrote (31713)	7/23/2001 11:10:20 AM
From: Electric	Read Replies (1) of 37746

Selling pressure is too heavy, add in global concerns (which I wondered when they would surface) and you have a down trending market going forward. If the market couldnt take earnings from the large names we have already had, then what can drive things higher going forward? I dont even think a FED cut can propel us for a long period of time..What is missing is forward hope for a recovery.. Also it is fashionable to sell the early rallies which we did today. I agree with your view on telecoms, they will come back one day, but I cant see myself entering any of them since the rally usually starts with the LARGE names, then filters down..the large names are not giving me any indication that a bottom is being put in, at least enough to put any $$$ in the sector. It seems the only group that has Momo (and very little at that) is the biotechs.. I also love the Metro Opticals for any leg up in the overall sector..mainly ONIS,FIBR,HLIT (very diversified)

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