Briefing isn't completely pessimistic at least. Thanks for the E-mail, BTW.
"Techs are falling not because of any great change in sector fundamentals but because of a shift in sentiment... Good news is market sentiment changes about as quickly as Chicago weather... So if you can ride out the current bearish mood for another week or two, Briefing.com expects the tone to improve considerably as investors begin to focus on strong second quarter earnings... Decline in long-term rates will also underpin tech rally... Best bets for recovery are the stocks getting hit hard now such as large-cap industry leaders like EMC Corp (EMC 102 1/4 -1 1/4), Lucent (LU 56 9/16 -1), Sun Microsystems (SUNW 58 15/16 -1 1/4), Dell (DELL 36 1/8 -1 3/16) and Cisco (CSCO 109 3/8 -3 7/8)... Briefing.com also expects material rebound in the major Net players such as Yahoo! (YHOO 137 7/8 -13 7/16), Amazon (AMZN 117 1/2 -11 1/16), RealNetworks (RNWK 71 3/4 -9 1/4), Exodus (EXDS 76 -8 1/16), eBay (EBAY 183 1/4 -7 7/32), E*Trade (EGRP 50 -3 1/16), Net.B@ank (NTBK 41 3/8 -5 5/8) and Inktomi (INKT 103 5/16 -10 11/16).
However, not sure exactly when or where current slide will end so traders might want to wait for green light from market... How will you know when such a signal has been given? Look for a day when we see a reversal of a big, quick drop accompanied by surge in volume."
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