MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

0.0%

Nov 14 4:00 PM EST

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To: Eski who wrote (57031)	7/22/2000 10:36:51 AM
From: Crimson Ghost	Read Replies (1) of 99985

My take on tech is to be out at these levels. I would short strong rallies and buy steep drops. A bearish take on software from the BANK CREDIT ANALYST The S&P software index relative to the overall market (and even the S&P technology index), has suffered considerable losses this year, and more pain looms. Microsoft’s stock price, the index’s largest component, has rolled over, and was unable to rally above its 200-day moving average, suggesting further weakness ahead. Several earnings disappointments and warnings that slowing personal computer sales would hurt future profit growth, does not augur well for this sector. Therefore, the relative decline in earnings for the software index should persist. Investors should avoid this sector until value is restored and signs of a turnaround in earnings growth emerge. (

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