Dave Gore's Trades That Make Sense Message Board

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Strategies & Market Trends : Dave Gore's Trades That Make Sense

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To: wgh613 who wrote (864)	1/16/2002 9:04:29 AM
From: Dave Gore	Read Replies (1) of 16631

MARKET OBSERVATION/STRATEGY: Thanks, Manny, I'll look at those and others today. The tech sector is quite weak, especially chips, so money will be flowing elsewhere today. Yet, I am going to keep my eye out for the really high quality tech names (e.g. BMC or CRUS) that have guided up or have had recent momentum. If they approach chart support and the market begins to turn around later today, this week or next, they might make good entry points for either short term or intermediate trades. On tech, the big boys focused in on INTC cap ex spending which is expected to be down. Even though INTC spent a lot in 2001 and it is natural to assume they perhaps don't need to spend as much now in 2002, they decided to take that one data point and use it as an reason to short tech. At least that's my take. Of course, it also means that people were pricing in perfection in tech valuation and INTC's drop in predicted cap ex spending was a hint that growth is not as strong as many hoped. This makes more sense to me and I in fact agree with it. Like I said, I am looking at others sectors beside tech whenever rotation out of tech occurs. I have a ready made watch list.

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