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Technology Stocks : America On-Line: will it survive ...?
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To: Hawk who wrote (3672)6/27/1997 10:13:00 PM
From: Sabrejet   of 13594
 
Marc, when I look at the indicators and the events ahead, FOMC, start of a new quarter, the pre announcement period ahead(no one likes to buy at this time) etc.... Many of the leaders have been extended about as far as they can go in the short term. Take MSFT; that thing actually hit 135 a week ago. INTC; the distribution and just the amount of money coming out of that hasn't stopped yet. CSCO is pretty high at the moment and as far as the rest of that group ASND is cooked for the immediate future, who wants to play the small caps when the big boys are having troubles. If they can't get it going, look out.

Healthcare has the jitters now, after one major disaster this week. The banking sector is now mixed.

July 4th holiday week. Vacation time is starting and buying will slow. I'm currently out of all positions except for PFE long and ZITL short. PFE is a sell after the split and ZITL is a comedy that I don't even bother with anymore! I'm looking at going short Monday on a few issues. I hope I get lucky and maybe hold off until Tuesday to free up some extra money.

DOW-30 a tad overbought <g>!!!

If one is planning on going long, this is one of those times where taking your money and putting it on the side may be the best thing for a week or so.

Just MHO!!

Take care,

Rich
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