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Strategies & Market Trends : Watching the market collapse -- Ignore unavailable to you. Want to Upgrade?

To: Charles P. Hubbard who wrote (143)	9/14/1999 2:56:00 AM
From: RTev	Respond to of 150

Well, it's September, nearing that magic market month of October, so it seems worthwhile to revive this thread. In case it was missed, an instructive look at the state of the current market was recently republished in one of the SI columns: siliconinvestor.com THE HIGH-TECH STRATEGIST Editor: Fred Hickey September 3, 1999 The stock market's leadership is getting narrower and narrower. The market's "breadth" numbers are horrible. With interest rates soaring, financial stocks have come under pressure. Investors' response is to move more money into the big-cap techs and semiconductors. Drug stocks have weakened, so even more money moves into the techs. Even the Internet group has come under pressure, after peaking last April. The momentum money that used to chase America Online is now pursuing Texas Instruments (up an incredible 105% year-to-date). The massive concentration in large cap tech stocks is a classic "crowded trade." When we talk about the stock market bubble, we're talking about these stocks. And he goes on to suggest why the pin to pop the bubble is already visible.