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To: Jorj X Mckie who wrote (57158)8/18/1999 7:17:00 PM
From: pater tenebrarum  Respond to of 86076
 
i said that. in a rising rate environment the semis are the last group to crack. historical examples abound, one being 1987. if today was more than a blip and the SOX index cracks, that would be very good news for the bears. also the financials' run stopped dead today in spite of the strength in the bond. of course one day is not enough to pass judgement, but the runup e.g. in AXP was way overdone and it reversed nicely right at gap resistance.
otherwise i agree with everything you said...as usual, the bears will get spanked.