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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 692.27

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4:00 PM EST

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To: d. alexander who wrote (24439)	11/25/1999 4:41:00 AM
From: Johnny Canuck	Read Replies (3) of 69786

Dorothy, I sold out of LWIN too about the same time and flipped some of the proceeds in IFMX. It was all 100 percent profit as I got the shares for free. I am trying to go for stocks with P/E's closer to their EPS growth rates right now so there is more of a limited downside in the face of a correction. It is hard to find value in this market right now, but there are isolated pockets in the small caps. Telecom stocks should remain hot for the next little while as this is the strongest Q for many of them. We saw the first tier stocks like QCOM and NT move, then the second tier stocks like ADCT and TLAB's move, even the third tier stocks like ORTL have had a move. For the next week of so it may time for the group to rest and consolidate. We saw some rotation out of the group this week and last, but the traders should be back come the end of Dec/early January in advance of the start of earnings. The Macy's parade is this weekend too, isn't it? So what are New Yorkers planning for the New Year Eve? New Yorkers always seem to want to do it up big and with the pseudo-Millenium coming up I would imagine some huge party is planned for Time Square. What's new York like in the Christmas Season, I have never been? Favors weekly commentary jerryfavors.com Enjoy, Harry

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