Value if a 4-letter word: -
This has been one of the most remarkable quarters that i have ever seen. The internet fund is up 98% for the quarter, and basic large cap value funds are down 2% or so. The average mutual fund is barely above water for the quarter, unless it owned aol, yhoo, ebay, wcom, msft, etc. I have never seen such a discrepancy between value and growth, and that growth if confined to about 20-30 stocks. Janus 20 Fund is up 24% for the Quarter, Lord Abbett Affiliated fund is up 2%. Value is so out of style it is shocking. Not sure what the meaning of this rambling is, just want to point out how narrow the advance in the market is.
ON a personal note, i had one of the best days i've ever had in the market. hardly traded. sold some aol and bot it back 2 points higher, added some yhoo at 198 to the yhoo i bot two weeks ago at 179, bot some cpq then sold it for small loss. bot some onsl and took small gain, then sold my older position for medium loss. saw my cmgi go from even to plus 15 points. unreal.
TWX and CBS look in break-out mode. AOL may well buy CBS. it doesn't matter. CBS is going to 50 or 60, probably sooner than later. ATHM didn't move today. I tried to add to my athm position end of day with the cpq and onsl $$$, but couldn't get to my trading site in time. what a day. larry |
