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Strategies & Market Trends : Making Money is Main Objective

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To: lightwave51 who wrote (1670)	10/16/2001 4:07:53 PM
From: lightwave51	Read Replies (1) of 2155

Individual investors still 'cautious' ($INDU, $COMPQ) By Tomi Kilgore 3:44pm 10/16/01 Heading into the final half-hour of trading, the Dow Industrials ($INDU) is up 34 points at 9,281 and the Nasdaq Composite ($COMPQ) is 25 point better at 1,721. "Individual investors are more cautious that the action in the averages [suggests]," said Jeffrey Kleintop, chief investment strategist at PNC Advisors. He added that the market's recent run-up appears to be more of a function of fund managers rebalancing portfolios than new money flowing into equities. The Dow is now up 15 percent and the Nasdaq is up 24 percent since hitting multi-year lows on Sept. 21 (8,062.34 and 1,387.06, respectively). He added that investors have "written off" the third quarter earnings season as one that will be horrendous. But he believes there will be a reassessment of recovery prospects on the part of investors if companies don't see signs of a turnaround heading into next year.

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