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Strategies & Market Trends : SPARKY'S CORNER

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To: Dwane Houghtaling who wrote (3936)1/29/1999 12:55:00 AM
From: Bruce A. Brotnov  Read Replies (2) of 4142
 
Dwane, as we discussed OVRL doesn't have a base for probably another point down, so we need it to base where it is at for a few days to provide support for another move up. Rating is still an 8 and EMC strength today is also good for stocks in that sector.
The drag right now is whether the MFs will continue to wait for moves in the small caps. We really need to see the Russell 2000 getting back up there in 430 area and mirror the Nasdaq. Main difference is Russell 2000 doesn't have any internets to make it fly high.
I hope we don't get another year like last year where the MFs focused on the nifty 50 and the rest of the market struggled all year. Except it could be the internets this year - that is why it is critical that the market be led by something like the tech sector and remain broad or our little great stocks will remain little.
Bruce
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