MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 662.72

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Nov 19 4:00 PM EST

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To: Road Walker who wrote (52102)	5/25/2000 4:26:00 PM
From: flatsville	Read Replies (1) of 99985

If you have any doubt just how overvalued the financial are/were and why this excellent explanation from Les Horowitz helped clear up a lot of confusion on my part: >>>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.<<< Message 13767330

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