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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (32640)	8/31/2000 8:04:53 AM
From: Jerry Olson	Read Replies (4) of 50167

Good Morning Ike..and all.. just some quick thoughts on the markets... all indexs are pulling back into cycle low dates today or tomr... INDU looks like 11050-11000..good support NAZ/COMPX 3950-3900 SPX 1490ish... NDX 3800... etc etc etc..a normal pullback in the overbought conditions in all indexs... just fwiw..the semis are in overbought territory, while the internets and software and elctronics sector are at very oversold levels... better upside than the semis...the downside on the SOX is still 1080-1060...would bring the index more in line... and set it up for a nice move into earnings mid to late OCT... also the bio techs looks poised for a big run here... all in all.. a stable environment for stocks to move forward as long as we pullback just a bit more... the nets are on fire as of late..and we talked about this as the sector bullish percent reversed up into Bull Alert at about 26%..it's only at 30% now, but moving up smartly.. fun to trade too..because everyone piles on late<G> hope the boys are doing well warmest regards OJ

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