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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (585)6/24/2000 1:56:00 PM
From: Lucretius  Read Replies (1) of 436258
 
ralphi still bullish...

Further erosion in the Dow Industrials (-121.62 to 10,376.12) and a retrenchment in prices in the
NASDAQ Composite (-127.17 to 3936.84) provided for a weak session yesterday. Broader
indices also lost ground approaching a 2:1 plurality of losers over gainers. A notable difference in
the recent sell-off in the major averages is the under-performance of the Dow Industrials v.s. the
NASDAQ Composite. Since May 31st, the NASDAQ has registered a 15.8% gain. A pullback in
prices would be viewed as corrective in nature. Meanwhile the Dow Industrials have lost 1.4%. A
number of components within this average continue to look vulnerable. We look for this shift back
to technology driven sectors to continue into summer months albeit quite a bit more selective than
the speculative binge that we experienced in the first quarter of 2000. We anticipate further
indecision into next Tuesday?s meeting and then anticipate a further advance. Key areas of support
in the current pullback are listed below.
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