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Technology Stocks : Seagate Technology - Fundamentals
STX 237.60-1.2%3:59 PM EST
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To: Duker who wrote (544)2/26/1999 4:56:00 PM
From: William Epstein  Read Replies (1) of 1989
 
To All;

For all of the hoopula the most important news came at the end of trading today. All of the important indexes closed the week flat, almost no change, for the week. The DOW, S&P, NASDAQ and Russell 2000 finished almost unchanged for the week. Despite the analysts' forecasts this is the hard information. Why, is this important because it indicated that the market has stopped its downward slide and is at its support level. All of the bottoms in the techs. today were intraday lows. We'll see a series of rotating bottoms in various stocks for the next few weeks. Why, the techs. today? They are the market leaders. They have led downward so, that they will be in position to take the early lead upward in April. Some would call this TA but I consider it fundamental information about the market. One does not have to be a technician to understand this overview.
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