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Strategies & Market Trends : Waiting for the big Kahuna
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To: William H Huebl who wrote (47010)4/18/2000 7:04:00 PM
From: Mark Adams  Read Replies (1) of 94695
 
It looked like the positive action spread out a little today. Maybe we have to wait for a new catalyst, as from what I see, the confidence appears to be returning to momentum stocks.

Took a little off the table this afternoon, selling a minor position in a biotech that got knocked down by what I suspect was margin call related sales early Monday.

From what I saw during the past three days, the stocks at the most extreme upside valuations in Biotech and Semiconductors took the worst damage up to Friday, then bounced the most Monday PM/Tuesday. The late bloomers in the sector also got hit harder than stocks that had time to adjust to their new altitude.

Of course, this is all based on watching a very small portion of the market, and may not extrapolate to future downswings.

One thing that does have my attention, is the approach of 6% on the 30yr bond. Rising interest rates won't help my defensive stocks much. Probably won't help any stocks much.
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