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

To: donald sew who wrote (30618)	10/19/1999 2:45:00 PM
From: Benkea	Respond to of 99985

Bond 6.35%!

To: donald sew who wrote (30618)	10/19/1999 2:56:00 PM
From: pater tenebrarum	Read Replies (3) \| Respond to of 99985

Donald, by and large i agree. sector rotation limits probably both upside and downside. however, more and more leading stocks are breaking down. since the broad market as evidenced by the a/d line has basically tanked already, this new phenomenon introduces a downward bias overall. regards, hb

To: donald sew who wrote (30618)	10/19/1999 3:32:00 PM
From: Casaubon	Respond to of 99985

Hi Don, You are, as per usuaul, correct. Also, there was rotation back into Big Pharma today, always perceived as a safe haven sector. The many small caps I watch continue to bleed and occasionally one is taken out back and shot. It's like a bad gangsta movie <ggggg>

To: donald sew who wrote (30618)	10/19/1999 6:39:00 PM
From: Greg Jung	Read Replies (1) \| Respond to of 99985

I don't think the dow/nasdaq divergences are sector rotations perse but indicate the distracted WS searching for leadership. If IBM or HWP falls they find another dow stocks with a high stock price to prop up the dow. Remember the DOW zoomed past 10,000 and 11,000 due to HWP and IBM, mostly. Now that these are fallen and falling, how does it stay up? The second- and third-string stocks. Although not because they are such great sector representatives; in general all sectors on NYSE are going to hell in a handbasket. Yesterday they used AXP to pump the dow; today it was PG. Its just a bunch of cowboys showing they are Masters of the Universe. As an aside, todays action should in fact be rather discouraging, a failed rally attempt on NAZ and SP. Tomorrow we should see the crap get kicked out of Keane for being real; IBM has made some ominous moves to cut costs today although IBM shares didn't particularly notice. IBM PCs will now be mail/web order only! IBM services, trumpeted as the engine of growth, will not fare well.