Altaba Inc. (formerly Yahoo) Message Board

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Technology Stocks : Altaba Inc. (formerly Yahoo)

AABA 19.63

0.0%

Nov 6 4:00 PM EST

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To: Don Westermeyer who wrote (6782)	1/22/1998 11:57:00 AM
From: Bill Harmond	Read Replies (1) of 27307

>>There is not much of an earnings rally this quarter I guess! Yeah. Virtually all the proxies for the market that I chart have come up to resistance again, and appear to be resuming downtrends...lower lows and lower highs. Two proxies that have proven very helpful in the past for me for tracking the small-cap marketare two mutual funds...the Montgomery Small Cap Fund and the T. Rowe Price New Horizons Fund, and they both are trending down below their 50-day averages. Considering that they are actively managed, a downtrend in these funds is doubly troubling. A breakout above those resistance levels will change my mind. The telecom services and healthcare sectors are big exceptions. If you're looking for strength, stocks like AVEI, CYBX, IDPH in healthcare and WCII and PGEX in telecom services (all with blowout earnings) are acting great. I'm keeping an eye on the banks (which generally lead the market) and those two mutual funds though. Considering the overall trend, I'm staying in cash...at least for the next sixty seconds.

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