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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: LTK007 who wrote (95994)7/18/2002 10:23:53 PM
From: t2  Read Replies (3) of 99280
 
Max, I can see why the Nasdaq is in trouble; valuations too high and market bubble etc..

Just find it hard to believe that multinational stocks like Gillette, PG, JNJ have been getting hit so hard. One would think these are the safest names with the dollar seriously in trouble.

Saw Louis Navallier on CNBC (guest host this morning). He was bearish on large cap growth about 1 1/2 years ago..and suggesting buying the middle or lower market cap stocks in the SnP500. Now he is more bullish on the large cap value consumer type of names...seems totally logical to me.
Same goes for stragists like Tom McManus of BAC, who has been an excellent market timer for at least 2 years.

I guess the big outflows this past week out of large caps explains the short term problems with the market. Dollar again in trouble.....and can't why there is no flight to safer multinational stocks; I realize it could be about foreign outflows but that applies to US bonds and probably even more so.
...if one sees it from the perspective of the non-American investors, with a weakening dollar, the US stocks with global brands get even cheaper.

btw--Dollar index below 104 now...would be curious to see how G, PG, etc.. types of names react tomorrow even with a dropping stock market; they should do well (relatively). These are the types that I am long.
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