MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.43

+0.2%

Dec 2 4:00 PM EST

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To: HairBall who started this subject	5/29/2001 9:38:05 AM
From: t2	Read Replies (1) of 99985

Oil/Gas and Fiber optic stocks. Fiber optics may get interesting...at least Corning (GLW). This would be especially true if Alcatel buys Lucent and its fiber cable business. Corning then becomes the independent that others will buy from. If by chance JDSU was buying the Lucent fiber cable unit, that would be a negative for Corning, IMHO. Now there seems to be a slight positive turn for Corning. Also noticed the money returning to oil and gas stocks. I wonder if it is just a bounce from last week's decline. I would think that the stocks in the sector may keep heading higher. Last week may have been just an overreaction to the Senate change. The magnitude of the weakness may be a sign to many to stay long the group (ie.could have been worse) for this reason. Weakness in tech is certainly helping. Trying to determine where it goes from here. My hunch is energy keeps going higher and techs do rebound a bit as the SUNW meeting tonight will become a non event thanks to the drop in the stock this morning..buy the rumor, sell the news. Also since Naz is coming back to 2200 level--should bounce.( but not as confident on the tech rebound )

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