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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 689.490.0%Jan 8 4:00 PM EST
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To: American Spirit who wrote (53228)6/7/2000 12:43:00 AM
From: Techplayer   of 99985
 
AS, I agree with most of your thoughts. I am personally going to shun the retailers and financials for now. I have seen very few positive comments (with the exception of Best Buy) in retailing. Circuit City was creamed today. I like the second tier techs that are earning money, have continued prospects for growth and are less interest rate sensitive. I have recently run up MRVC, VTSS, QLGC, HLIT and FFIV. I sold 90% of my positions Friday and yesterday in the event of profit taking. Most of them have held up, largely due to Supercomm and basic fundamentals. what has scared me a little is the talking heads starting to beat the drum on the SW sector and internet b2b's again. It has not even been decided how revenues can/will be recognized and the lofty valuations are being tossed around again. I will stay with infrastructure plays that have a future and a presence. Right now, I would not mind seeing a day and a half of selling to get some of these stocks back at last weeks' prices. If we get further evidence of a less explosive economy, wall street will roll right over another 1/4 point if the fed decides to go that way and imo, hit the range that you mention. I don't see 5k unless earnings continue to exceed expectations in the face of the interest rate hikes.

Btw, Bloomberg tonight showed that Gas estimates for July have been raised to an average of 1.55/gallon.

Good luck,

Tp
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