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Politics : High Tolerance Plasticity

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To: kodiak_bull who started this subject8/11/2003 12:24:16 AM
From: energyplay  Read Replies (1) of 23153
 
Rotation to Non-Tech...

Alan Farley from the Street.com

Back in the Saddle Again
8/10/03 01:32 PM ET

I'm back home after a great vacation. My favorite moment was standing a mile from LC-39A and LC-39B, the launch pads for the Shuttle and Apollo missions at Kennedy. Same historial knot in my stomach as my visit to Ground Zero this year. Biggest surprise coming home and looking at my charts is the low damage-to-hype ratio after last week's selling. The charts just ain't that bad on the whole. It's clear there's a major rotation from tech into anything that's not tech. There are lot's of 60,70 and 80 dollar blue chip stocks close to new high breakouts. Many good looking financials (as long as they're not mortgage dominated), and many intact small stocks. Also it looks like a lot of June and July pullbacks are basing and healthy for a move higher. The biggest problem as I see it right now is how strong sectors are being systematically targeted for attack and takedown. Look how the semis were assualted end of last week and you get my drift
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