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Politics : Idea Of The Day
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To: zainrehanzack who wrote (32348)7/31/2000 8:28:41 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
<<stronger economy=higher interest rates by the Fed. This may lead to renewed interest in techs. Take a moment out and think of 'old premises' when Comp made new highs above 5000 on ground that techs would be least impacted by higher interest rates. DOW below 10400 is a short as well as BKX.Comp a long at 3460-80 area with a stop loss at 3370..>>

Higher interest rates have a certain impact on technology stocks valuations, these valuations aresum of cash flow streams, higher interest rates nakes them less attractive, however I take your point that market can bid some of these stocks higher from present oversold levels based on single premises that techs have far much lower debt burden..

I think technically you have nailed the gap for a bounce but for me I would like to draw your attention to IIX PSE and SOX, these three indexes will determine the fate of the test of the gap, if we hold SOX 935 a support that dates back to 2/18 and IIX 472 a support that is clearly visible and PSE 990 area, we will see that bounce from SPC 1423 200 days MA can be decent, however if weakness continues we may see that 1382 area on SPC in play that would be nearly a 1400 test on the sept contract.. but focus at the monet should be at the key supports of PSE 990 and SOX 935 alongwith IIX 472.. best regards and enjoy your time on SI..
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