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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 660.19

-0.8%

4:00 PM EST

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To: Clint E. who wrote (18369)	11/16/1998 1:38:00 AM
From: Tiley	Read Replies (3) of 68093

Hi Clint, I see that you're hoping for a pullback as a buying opportunity. Most everything I watch tells me the same thing - the only troubling factor is the action in the net stocks. This has been wilder than even the days of mid98 prior to the 98 crash of tech stocks and usually such action ends badly and not just for the stocks directly involved. The tech fundamental picture is still intact at least till Jan earnings. INTC's preannouncement means the PC market is strong (and it is a given that Intel has lowballed its revenues again - I forecast revenues around $7.5B and earnings of $1.10 at least). The only unknown is whether the strength is due to strength in the underlying markets or just a replinshing of depleted channel inventory.(I suspect its a little of both). So how do you view the wild action in the net stocks? Later, - MJ

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