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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (30862)3/13/2000 6:58:00 AM
From: IQBAL LATIF  Read Replies (2) of 50167
 
THe new economy stocks are under pressure, I would think that Japanese slow GDP or rather recession threat is on the back of global weakness, bonds are higher as flight to quality is in offing. Looking at some of the key indicators profit taking on new economy is on cards, some leading sectors look very stretched like SOX, some puts long ones can be helpful not at the open rather 2 hours into open after a rebound of SPH from the lower opening.

Old economy stocks would be a natural hedge like bonds we will see some backing up as investors find near bottoms in stocks wehave been highlighting. That still needs to be tested today, I would like some of these old economy stocks to perform better and buck the trend. Lets watch and see..

1382 on SPH should hold and the low of 9800 9850 on DOW, I would assume that DOT IIX SOX may be in for rough times today whereas DOW SPH may hold the supports..
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