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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

+0.1%

Nov 7 4:00 PM EST

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To: fedhead who wrote (43012)	3/14/2000 8:10:00 PM
From: bobby beara	Read Replies (4) of 99985

>>>>JDSU, QCOM, YHOO, CSCO etc<<< Anindo, ya LG gave it too me for calling qcom a bellweather -g- This is for dennis mostly, Shobin called the nyse financials and ge as bellweathers (and don't forget favors gann quarterly sell) Of course the new economy ignores those now. The Dow Theory pays attention to the transports and the Dow, but if you subscribe to the "new economy" theory and believe they don't matter - ok. But if you believe this is a tech mania, you will understand that when the top comes, the reversal will be swift and will require quick thinking. I have some belief that the right shoulder rally on the dow from the bottom of the broadening top formation all took place in the nasdaq and we may have already seen the right shoulder rally. that would mean the reversal on the nasdaq would be quite extreme. don't kid yourself with growth and earnings, the spx tech component grew 17% last year, hardly prolific given the multiples. b

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