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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 222.55-1.6%Dec 15 3:59 PM EST
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To: H James Morris who wrote (141107)3/30/2002 8:55:51 PM
From: Mark Fowler  Read Replies (2) of 164684
 
looks like very limited money flow into the market and what gets the money will be shuffled from over bought to over sold sectors.

I'm sticking with that we could see 1350 on Ndx( the line of support is a must hold) for a test after small bounce. Longer term, Indu "suggest, ? " eventually a move to 8000 level again on (TA basis only.) The market may have priced in lofty expectations going forward and may sell off after earnings. When there is sufficient money flowing into the market, Jim we usually see all sectors showing the same technical acummulation patterns, i just don't see it yet, so lack of leadership overall should continue and more rotation in and out of sectors for the coming qtr. Overall for tech and Telecom the sectors look more and more like in a secular bear market tend, if Ndx 1350 is the line in the sand, then soon it must break up or down going into the apex of the sept '00 down trend line...Xtc(telecom index) is still making new lows...for me it's a wait and see situation for now. Stock pickers market for now, small caps, Value and Gold look like best place to park the money. chow!

I'm off to San Jose for a two weeks i'll talk to you later. Jim don't let the TAX MAN TAKE YOUR HARD EARNED DOLLARS!!!
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