Safeguard Scientifics SFE Message Board

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Technology Stocks : Safeguard Scientifics SFE

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To: PCKL who wrote (3093)	6/15/1999 5:05:00 PM
From: Michael Young	Read Replies (1) of 4467

<<Once the Fed raise interest rate, the uncertainty will be gone. Technology will lead the summer rally. >> Very possible. But that tech rally will be lead by the semiconductors and telecom/broadband stocks. Just like at the SOX index, it is very, very strong. The DOT looks horrible however. It recently broke broke down from a bearish triangle at 525, and there is no support ANYWHERE near these levels. The nets are rolling over, end of story. SFE trades right in line with the DOT. Notice how it cracked under 60 when the DOT faltered to its session lows, and then jumped a point as the DOT rallied into the close on short covering before the big CPI number in the morning. This is not a market friendly to speculative issues, especially net stocks. By its very nature SFE is entirely dependant on a market that is receptive to speculative net stocks. MIKE

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