Barron's Online -- May 11, 1998
Market Watch
A Sampling of Advisory Opinion
By KATHRYN M. WELLING
Positive Patterns
P.O. Box 14161, Springfield, Mo. 65814
MAY 1 ~ There is no doubt that the ''engine'' of this tremendous bull market
we have had is high tech. The moves in these stocks the last 10 years have
been astounding . . . marvelous. We missed all of it . . . because we are pretty
dumb. We are just now starting to understand high tech, and our remedial IQ
has prevented us from participating. That said, look what is happening now.
With the exception of a few high-tech stocks, the techs (lately) have been
badly underperforming the markets. Look at Intel, Motorola, Sun
Microsystems, Compaq, Oracle. These stocks have all been very weak.
While the markets have been blasting out to new highs, these stocks have met
growing selling pressure every day. We think money managers ignore this at
their peril. We predict when the correction comes, these stocks will lead the
parade down.
-ROBERT B. HOWARD
AND ELIZABETH A. WHITE
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