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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who wrote (233)2/14/2002 12:26:51 AM
From: Robert New   of 787
 
Hi Joe...noticed the 2nd and 3rd tier players in most of tech excluding the semi's have been taking a decent hit here. Ive been staying away from shorting the market leaders as many have a heavy short interest and have held up fairly well. What I did notice about todays move up is that the rally was fairly narrow especially in the stocks I follow and I think its only a matter of time until even the leaders falter here. I think PMCS will workout fine but just needs some time here. VRTS looks very weak here as well. I took a bit of a hit on KLAC here as well and it does look like some of the semi's are trying to break out here on volume. I've got the top of the downtrend line at 1875 so that looks like an important level to me. Time will tell as always...

Rob
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