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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who wrote (6080)5/10/2002 1:11:29 PM
From: Terry Whitman  Read Replies (1) of 33421
 
Thanks JP- Well I'll have to admit, I though the lows in tech would have occurred already- and they generally have in the small cap arena. The Nasdaq A/D line is approaching last year's lows however. We'll have to keep an eye on that.

There are some large cap former darlings that are definitely struggling here. I've bought a few in the last couple of months, GE, SBC, LU. They are all underwater now, and threatening new lows. ex. LU, which is 20% off it's lows.

I'll have to change course and hedge them if we break to new lows here. I would be surprised if we do- but you can't fight the tape for too long- or the losses can start to mount up. Luckily, I have plenty of gains in small caps, defense and energy that more than offset these at the moment, but those could disappear too if the overall market follows the former darlings.

WCOM is a falling knife- I'd stick with LU, SBC, or T if trying to catch a bottom in telecom.

Regards,
TW
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