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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: energyplay who wrote (94105)8/30/2001 6:30:15 PM
From: energyplay  Read Replies (1) of 95453
 
Fund managers : Will sell tech stocks for food stocks

TO expand on JQPs excellent question -

From James Cramer at TheStreet.com -
****************************

Fund Clowns Can't Hold Tech and Eat, Too
By James J. Cramer

08/30/2001 05:40 PM EDT
URL: thestreet.com

If I can't find it in aisles three through 12 of my local supermarket, I don't want to touch it.

That's going to be the mantra of the mutual fund managers who see the pattern developing pretty clearly going into the last month of a quarter. What's amazing is that
these managers, who used to decide themselves what stocks should go higher, are now scrambling. They don't have the firepower any more to move their own stocks.
The only way they can buy the foods and the health cares is to sell their precious techs.

I can't contrast this period enough vs. what went on in the last few years. The growth hounds always got more money in. They were always able to stabilize the
downside and bull their stocks back up. They never sold, unless it was to buy another tech stock. Now they are, at last, not seeing new money come in.

Ahh, now I have to ask the hard question: What happens when they finally see the money coming out?

Stay tuned to the last third of the year. I think we are about to find out. Couldn't happen to a more arrogant, deserving bunch of clowns.
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