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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Sam Quentin who wrote (266)4/21/1997 7:09:00 AM
From: donald sew   of 120523
 
Sam,

You are correct that NTII being beaten down, and technically it is a definite buy now.

However, technicals do not work that well with both stocks under $5 and biotechs in general.

Taking a more subjective than analytical point of view, there is no evidence that this stock or most of the very small/micro cap stocks will move anytime soon. If you are willing to hold for a longer period of time (3 months to a year +), then technically NTII is a buy. But if you are looking for something to move with the overall market now - then the good big stocks (nifty-fifty) is still the place to be.

My gut feeling is that after the DOW & big NASDAQ stocks have to first rebound fully, or even set new highs before you will see rotation into the small/medium stocks. And I feel that the the big stocks will not reach that level until the threat of interest rate increases is no longer - that could be the JULY FOMC meeting, even if they do not increase in MAY. Strongly feel that the threat of interest rates fears in the market will be with us until there is no interest rate increase for 2 FOMC meetings in a row. Until the then, in general the smaller stocks will just be flat or go further down (hard to believe). Of course if a company comes out with fabulous news (it has to be fabulous not just good IE:cash buy-out, not just stock swap) then it has a chance to rebound in this lousey market.
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