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Strategies & Market Trends : Intraday Updates, Analysis & Strategies for Daytraders
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To: Luce Wildebeest who wrote (269)3/15/2001 9:24:36 AM
From: Lane Hall-Witt   of 589
 
cal: I don't know. Personally, I think we have to wait a bit more to see what the market tells us on this. It certainly is plausible that money would rotate from the Dow to the Naz, given the steep drop in the Naz. But I actually hope we'll see the Dow and the Naz fall together for awhile. The phenomenon of "rotation" suggests optimism: money is moving around within the market, not leaving the market altogether. For the long-term health of the market, I think we need to see investors give up on rotation within the U.S. equity markets and start yanking money out of stocks altogether.

There's good money to be made from rotation, obviously, so I'm not down on this from a trading perspective. But I think it's going to be awfully hard for the market to wash out, base, and begin a longer-term process of rebuilding until we see more folks rotate out of U.S. stocks entirely and look for other uses of their money: bonds, overseas equities, etc.
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