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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (444)	8/8/1999 1:55:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 19219

J.T., i know the semis were the last sector to peak in '87; typically the semis are a group that performs especially well when interest rates are rising due to their deep cyclicality. that is why the inflationary jobs report on friday resulted in money shifting from financials to semis. however, the extent of the semis' run from low to high(+194%)now equals exactly the average size of the semis' run from low to high in the last two cycles and there is a wealth of anecdotal evidence that points to these stocks being overowned by funds and individuals. a WS analyst recently opined on CNBC that one "must own" these stocks, which is a clear sell signal imo. regards, hb