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Technology Stocks : America On-Line (AOL)
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To: Jenne who wrote (21591)6/12/1999 12:46:00 PM
From: ChinuSFO  Read Replies (2) of 41369
 
There are 3 days that are crucial for a reversal or a free fall. Reversal would cause DOW to go past 11K whereas a free fall would take the DOW to 9.5K according to some analysts.

The three dates are CPI numbers coming out on Wednesday 16, the next is triple witching on Friday 18 and the third is June 29 2:15 pm when the FED/OMC comes out with the anticipated increase in rates.

If CPI numbers do not live upto investor expectations, the expect a drop of the DOW to 10K by the time the FED meets.

After the FED meeting, investors will get a good feel for the playing field. After that meeting, I expect a small summer rally fueled primarily by the semis (Intels super chip, AMAT/NVLS/LRCX primarily benefitting from the Asian turnaround, CSCO/SUNW the Internet hardware suppliers). This will soon be followed by the earnings season. That will provide another checkpoint for the direction of the market.

So in short we have to hold off till the month end
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