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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 689.100.0%4:00 PM EST
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To: bobby beara who wrote (75241)4/17/2001 10:31:13 PM
From: The Ox  Read Replies (3) of 99985
 
I don't want to get into who's right or wrong on this market but I think we are seeing a change in sentiment due to a fundamental change: cost cutting and layoffs. While the 'tech sector' continued to collapse earlier this year, there was little being done to stop the bleeding by companies and all they could tell us was that there was little visibility while their business was falling off a cliff.

Now many companies are coming clean and informing the street how they are going to change this situation. Layoffs, cutbacks, cost cutting and house cleaning. This is a fundamental change in the tech landscape from a few months ago. Few companies were talking about trying to become leaner, they were only talking about how fast their business was disappearing.

I think this is one of the main reasons we are starting to rally off of bad news.

jmo,
mh
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