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Strategies & Market Trends : Tech Stock Options
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To: Patrick Slevin who wrote (37160)3/23/1998 9:28:00 AM
From: donald sew  Read Replies (1) of 58727
 
Patrick,

>>> I wonder why the HiTechs are bouncing in the wake of the oil stuff. Could they be rotating again? <<<

Just heard on CNBC that $1 BILLION per day is coming into the market for the last 2 weeks. If that is true, would think that it is rotating to the weaker sectors for the only reason that they have to put the money to work somewhere.

That's like getting a raise and instead of buying a Taurus, one goes and uses the increase to the fullest and buys a Mercedes. Then the person gets laid off. Its still not the end of the world, just increased difficulties.

I just spoke to my broker who advised that about 39% of the recent increase in the DOW was due to only 5 of the 30 stocks(JPM,UNITED TECH,MMM,MRK, cant remember the other one). Since that index is not not weighted, it may be giving a misleading indication.

If that is the case, maybe the DOW is the place to short in the near future.

Seeya
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