Dorsey Wright & Associates. Point and Figure Message Board

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Non-Tech : Dorsey Wright & Associates. Point and Figure

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To: Augustus Gloop who wrote (8156)	5/23/2000 1:39:00 PM
From: Jorj X Mckie	Read Replies (1) of 9427

I believe that we will see a rotation back out of the NYSE and back into the Naz eventually. This is speculation at this point and obviously we should wait for the indicators to suggest something, but I view the correction in the naz as a healthy reset of the valuations whereas I view the interest rate hikes to have serious ramifications to the NYSE type stocks. The interest rate hikes are not going to hurt the underlying fundamentals of stocks like CSCO that have no debt and a large cash stockpile while they will hurt the fundamentals of the NYSE company that uses debt.

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