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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: AllansAlias who wrote (20647)	9/21/2000 11:29:52 PM
From: Perspective	Read Replies (3) of 436258

I agree. Something very different has been happening on this decline already, and that's why I was (fortunately) slow to cover my shorts at the latest bottom. For the first time, we are seeing Fleck's triple flush - all the indexes draining in concert. S&P is very important, because it's the only reasonably broad-based index left. DJIA is skewed toward old-economy, and NDX is way too overweight in the new-new thing. While they've been trying to increase the tech weighting in S&P, it is still the best broad-based megacap index we have. When it drains, it means money is truly leaving the market, not merely sloshing around from sector to sector. I think the sectors have all been discredited, one by one. The only ones that might be left to provide support are the Nutz Christmas theme, or biotech, since they can't disappoint. Money is leaving this market now. And the outflows have just begun. <ng> BC

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