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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 672.07

-1.7%

4:00 PM EST

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To: Boplicity who wrote (78025)	6/5/2001 7:14:24 PM
From: t2	Read Replies (2) of 99985

The big news this week, other then MSFT break out, should be the lack of warnings. I don't expect big warnings from technology. They have already done it by setting the bar so low that they can't miss in many cases. Read that Lucent confirmed guidance<vbg> Don't know how any other major tech names should miss the already low guidance. I have to admit that names like CPQ are still borderline but the damage should not be nearly as bad as many fear. The number and extent (of warnings) will be shock to many. I agree the surprise is going to be the lack of warnings. The warnings may come from other sectors that are supposed to have been doing well. The mutual funds and traders are going to get in front of that and bail out of some positions and move more into tech. Surprise warnings in some recently strong sectors could mean big drops in their stock prices----basically a game of expectations---just like tech of 1999 and 2000. That is what is going to be driving the Nasdaq much higher near term---the less fear in experiencing a major drop on profit warnings. We get the mutual fund sector rotation taking place and they are going to bid up techs. Therefore, the big Nasdaq gains take place in "warnings season". jmho

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