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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 677.58

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Nov 5 4:00 PM EST

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To: bobby beara who wrote (72565)	3/18/2001 7:02:57 PM
From: Arik T.G.	Read Replies (1) of 99985

>>you sure all the air has been taken out of the tech bubble? Not at all, but the market doesn't move in a straight line and a correction (IMO could even take a few months) is overdue. The theme of my post was not tech stocks are cheap but the other way around! After the high flyers got their share of beating, the old economy stocks suddenly look VERY expensive. The idea was not "buy CSCO, it's real low" but rather "hey, look how high KO and CL still are". Let me picture this more vividly- Two guys in a baloon watch as a high flying Concorde is nose diving close by. On its way the Concorde rips off the top of the baloon and gravity does its trick now on both objects. The guys on the baloon are still watching the Concorde cause its dropping real fast and they feel sorry for the poor 1st class passengers about to crash. Im saying ok techs are crashing but look at the NYSE loosing air, cause that baloon is higher above the ground now.

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