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Non-Tech : Invest / LTD
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To: drsvelte who wrote (7590)2/26/1999 12:13:00 PM
From: Thean  Read Replies (1) of 14427
 
Doc and all,
Some observations on today's tech wreck.

1. The first thing I looked this morning was the strength of buy-on-the-dip. It happened, but as of this writing the strength wasn't there. INTC, MU, AMAT, NVLS all fell below their support/uptrend lines and if they close where they are or even 1-2 pts higher, the technical picture is set for a downtrend line to emerge with lower high's and lower low's. It is very possible that the buy-on-the-dip nifty fifty mentality is about to expire. <GG>

2. Value plays - those smaller caps that got hammered so mercifully either recently or in the recent years managed to hold their own. It is quite likely that the rotation into smaller cap, value plays have just began. Note - the drillers do not fit into this category - RIG is sinking even lower this morning.

SPMSF - I look at it as a value play with strong growth this and next year.
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