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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: eichler who wrote (78096)	6/6/2001 4:46:15 PM
From: t2	Read Replies (1) of 99985

Oils, financials and Hewlett were just too much for this market to absorb..as noted by some on CNBC this afternoon. It will be interesting to see if the financials bounce back tomorrow; I suspect they will and that will carry the SnPs and Dow higher. The Nasdaq just seems so strong; on an average day in the year, we would have seen a big time drop in the Nasdaq on the HWP news. That leads me to believe that the market bounces back tomorrow...especially the techs. The big event for the Nasdaq will be the Intel quarterly update after the bell today; my bet is that Intel gets bought up ahead of that tomorrow. I am basically waiting for the reaction of some of the old influential analysts like Ashok Kumar and Dan Niles; Niles is very negative while Kumar seems to change his mind often. Kumar's opinion could be a market mover, imho, since he has not committed to the very bullish camp yet. He set off that massive decline last September with the Intel downgrade. That was the biggest call on a stock that became a market moving event after the Jonathan Joseph broad call earlier last year of a semiconductor cycle top. These guys hit the nail on the head last year. Joseph and Kumar are very influential. Joseph is now bullish and the most credible on the sector, imho. Kumar is more of an Intel specialist. A combination of Kumar and Joseph being bullish on Intel could be HUGE, imho. It is only a waiting game to see when Kumar gets bullish short term....just a matter of time, imho. He is well aware of Windows XP on the horizon...October. Eichler, that is my non-technical opinion.<g> BTW--Kumar and Joseph both being very bullish would be an Intel short's worst nightmare. It would have broad implications for the technology sector as a whole..just like last year.

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