Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Think4Yourself who wrote (83047)	12/30/2000 1:19:28 AM
From: Douglas V. Fant	Read Replies (1) of 95453

JQP, Yup, I've been buying small cap techs heavily this last few trading sessions, many decent companies at below book value and at P/B and P/S ratios of lower than one. I'm not alone as many of the small cap techs I follow had their daily volumes jump to 2x to 3x today, even in a quiet market week, as last tax sellers sold to lock in losses and new round of buyers appeared.... Also check out NYSE closing short interest today and mutual fund cash holdings- 4.8b shares and 6%- the first a record,the second close .... From Market Edge: Weekly Market Comment (Week ending 12/29/00 ) The markets were mixed last week as the DJIA scored a moderate gain while the NASDAQ continued on its three week losing streak. For the period, the DJIA gained 153 points (+1.44%) and closed at 10786.85. The NASDAQ ended the worst year of its existence by losing 46 points (-1.83%) and closed at 2470.52. The CTI, positive since 11/04/00 (DJIA-10817.95), remained bullish at +7 and is projected to stay in positive ground through the week ending 01/19/01. The Momentum Index remained at neutral +1, unchanged from last week's reading. The "Market Posture" continues to be regarded as bullish. The percentage of bullish investment advisors returned to a neutral 51.4% down from last week's bearish 54.1% reading. U.S. equity funds had outflows of $2.7 billion during the week ending 12/27/00 compared to outflows of $19.2 billion the previous week. The average mutual fund's cash position remains flush at 6% while the number of NYSE short sales is at an all time high of 4,875,865,244 shares.

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