The Justa & Lars Honors Bob Brinker Investment Club Message Board

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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Boca_PETE who wrote (4627)	4/20/1999 9:45:00 PM
From: Justa Werkenstiff	Read Replies (2) of 15132

P: My rolling correction commentary was strictly limited to the semiconductor capital equipment sector. As for last week, here is what I believed happened. On Friday, many of the portolio managers found themselves being left behind by the dash to cyclicals. So they said to themselves they would hop on board on Monday. So they told their traders to buy some cyclicals and sell some high multiple stuff. Too bad too many decided to do the same thing. So on Monday, with the DOW surging and the high multiples crashing, they saw some value back in the high multiple stocks and so they sold some cyclicals which brought the DOW down. And today the action reversed with the high multiples going up again and with the cyclicals flat. Yes, this could have been the high in the markets as you described, but I don't see the catalyst for the fall now with the market broadening and with good earnings and guidance flowing. INTC to have analyst meeting this week. Then we have the H & Q technology humpathon. Market looks tired -- that is for sure.

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