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Strategies & Market Trends : Paint The Table

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To: AugustWest who wrote (18726)	3/11/2002 10:11:05 AM
From: John Pitera	Read Replies (1) of 23786

...go straight to jail, do not pass go..... BA cuts US equity allocation today. MER and MWD already did that last week. 9:25AM BofA cuts equity weighting, Nasdaq price target : -- Update -- Banc of America reduces their equity weighting to 50% from 55% and cuts 12 month price target on Nasdaq to 2250 from 2350; recent runup in stock mkt is due to better-than-feared economic news, short-squeeze in Japan, and widespread anxiety of missing out on a new bull mkt; however, firm says this is not the dawn of a new bull mkt (justthe extension of the old one) and suggests that investors remain patient and look for more rewarding entry points. In addition, technology and telecoms still have full valuations and are not likely to recover in 2002.

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