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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Matthew L. Jones who wrote (27016)	9/24/1999 8:33:00 AM
From: theRedDog	Respond to of 99985

Some comments/predictions from Robert Walberg at briefing.com today: >>>>>>>>>>>>>> ............................ <some talk about Ballmer here> ............................ However, investors would be missing the big picture if they believed Ballmer's comments were largely to blame for Thursday's sell-off... The rest of the market has been heading south for weeks, nay months... As the major market indices finally took out long-term support levels Thursday, techs simply capitulated... That they held up this long was amazing... What scares me now is that while much of the market has already experienced sizable losses, many tech stocks are just off their highs. One hallmark of this record-setting bull market has been the "rolling correction." By that I mean as one group falls another rises... Tech investors need to ask themselves, if they haven't already, whether techs can maintain their impressive relative strength, or whether money will begin to flow out of the "overvalued" sector into some of the more beaten down groups. I am of the opinion that strong top- and bottom- line growth will shelter the tech sector from the kind of bear moves that have plagued the drug, financial and retail sectors recently... That said, I don't think Thursday's selling marked the end of sector's correction... Briefing.com expects to see continued selling into strength, with techs dropping by another 7% to 10%... And as I noted yesterday, the sector/market falls much faster than it rises... So if I'm right, the next couple of days/weeks could be kind of nasty. <<<<<<<<<<<<<<<<<