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Strategies & Market Trends : Intraday Updates, Analysis & Strategies for Daytraders

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To: shulz who wrote (69)	3/12/2001 2:53:35 PM
From: Lane Hall-Witt	of 589

It feels to me like some hot money is stirring the drink in an effort to find some buyers -- this volatility is nuts. I'm watching GE today -- carnage. Even with the growth stocks getting crushed, "defensive" plays like MRK, PFE, AHP, and MO are all down today. We're not seeing the usual "rotation" today. Money is simply being taken out of play right now. CNBC mentioned margin calls earlier. I wouldn't be surprised if there's some fund selling to cover redemptions, too. The SPX under 1200 is a pretty serious breach. So is the COMPX under 2000, obviously. The Dow is going to have a tough time defending 10300, if GE is giving us any sign. The SOX has been great, but is really in an alternate universe right now. It's diverging not only from the COMPX, but even from INTC, which has been weak all day in the face of hard selling.

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