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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject5/1/2001 4:44:26 PM
From: Dave Gore  Read Replies (1) of 37746
 
Sharck/All: ** Interesting Market and Tech Commentary for Briefing.com **

Many of you may find this interesting; I especially like the part about how the Money Mgrs. may have messed up again.

Updated: 02-May-01

General Commentary
Money continues to flow back into tech - regardless of the near-term earnings outlook... Right or wrong, traders now expect an earnings trough over the next few months... As such they are buying now in anticipation of a turnaround, knowing full well that if they wait until the actual numbers improve they will have missed out on the lion's share of the advance.

Money managers, many of which underperformed last year due to an overweighting in technology, are doing so again this year due to an underweighting in tech... As the Nasdaq shrugs off negative story after negative story and continues to press higher (amid steadily improving breadth), these investors are feeling the heat... They aren't paid to sit on cash, and they certainly don't achieve bonuses by underperforming... The end result - more and more institutional investors are chasing the rally... As such, you should expect the Nasdaq's advance to last longer and go higher than most analysts predict.

NOTE: Don't you just love these analysts and money managers? They throw everything into tech last year at the highs, sold too late, and then underweighted in the last few weeks and are late to the party because they got too bearish and nervous. They already missed a good run last month.
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