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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.08

-0.8%

Nov 18 4:00 PM EST

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To: HairBall who wrote (51935)	5/24/2000 11:51:00 AM
From: Les H	Read Replies (2) of 99985

Citicorp stands to gain as do other Money Center banks from the trade bill. cbs.marketwatch.com Some of the branches in this area are Chinese. I still think the holdrs are a big reason for the banks and financial stocks having surged over 20%. The semiconductor stocks were on the verge of breaking down when the SMH holdr was announced in April. They peaked exactly on the date the SMH initiated trading. The composite of those stocks rose about 34% in three weeks from 388 to 517. I suspect that the regional banks will suffer the same fate as the semiconductor stocks post-holdr or just about most holdrs. EDIT NOTE: I am using an unweighted price index for the composite tickers whereas the holdrs are weighted according to pre-specificed values. The S&P 500's coppock indicator, a long-term momentum oscillator, turned down yesterday. We still need the Dow's to turn down. I suspect it will need to break 10,300 or lower. The Nasdaq's coppock indicator, though still in a nose-dive, is still well above the 1998 low.

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