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Strategies & Market Trends : Ask DrBob

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To: longdong_63 who wrote (45740)	10/10/2001 6:09:19 PM
From: longdong_63	of 100058

2:21 PM SECTOR TALK: The equity market is performing a manner that suggests investors are placing a bet on a cyclical rebound in the U.S. economy. The Morgan Stanley cyclical index, for example, is up about 3% today led by consumer cyclicals. In addition, basic materials companies are stronger, gaining 2% on the day. A standout are the homebuilding stocks, which are up 4.5% on the day despite a drop in mortgage applications for home purchases reported earlier today. Importantly, the defensive groups are also strong, albeit with less vigor than the cyclicals. This suggests that today's stock market strength is not yet an all-out bet on recovery. If it were, the defensive groups would have deeper underperformance.

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