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

To: theRedDog who wrote (32734)	11/8/1999 2:00:00 AM
From: bobby beara	Read Replies (2) \| Respond to of 99985

Reddog, y2k has become a non-event for the general business community, EXCEPT, for the tech community, which has been hoarding BIG time in advance of the y2k event. Consider Big Blue which IS THIS CENTURY IN COMPUTING! and it's 4q/1q warning, which is ignored in the greedy euphoria. Over time there has been great changes in trends or sentiment as decades roll over, consider the 30's, 40's, 50's, 60's, 70's, 80's, 90',s and now consider a millenial change, which is seems nobody considers the impact of great change, which is inherent and inbred in the psyche. now consider the change from the 1700's, to the 1800's, to the 1900's and consider the accelleration of change. it boggles the mind that things happen now in seconds or minutes that use to take decades or longer. I find the level of optimism and confidence very disquieting, especially with a bull market icon making front page news like this a fibonacci 55 days from the date change. bb

To: theRedDog who wrote (32734)	11/9/1999 8:29:00 AM
From: theRedDog	Respond to of 99985

Yesteraday before-the-open briefing.com commentary got the market movement right on the nose. Message 11840740 This is from today's briefing.com: >>>>>>>>>>> Talk about strength... The tech sector absorbed the blow delivered by the court's adverse findings of facts in the Microsoft antitrust case and smiled that Muhammed Ali smile which said, 'that all you've got'... Just as Ali's smile deflated his opponents, the tech sector's impressive rally Monday deflated market bears... By day's end the Nasdaq recorded its eighth straight winning session... Over that period, the tech heavy index is up 13.5%... Having sent a loud message in its dismissal of the MSFT news, the bulls are in firm control of the sector/market... As such, any weakness over the near-term likely to be viewed as a buying opportunity by those investors that have yet to jump on board the latest tech rally. Not surprisingly much of Monday's action in the sector centered around the MSFT ruling, as traders moved quickly to snap up stock in companies perceived to benefit from a tamed Microsoft... Sun Microsystems (SUNW 111 7/8 +2 3/16), America Online (AOL 149 3/4 +4 1/4), RealNetworks (RNWK 139 +4) and Apple (AAPL 96 3/8 +8 1/16) were among some of the more high profile winners... Linux related companies such as Red Hat (RHAT 104 +18 1/16) and Applix (APLX 14 1/16 +2 1/16) also posted big gains... What was a bit surprising was the lack of damage done to Microsoft itself... Street moved quickly to defend the company, with most analysts maintaining their ratings and earnings estimates... After falling to a low of 84 3/8 in early morning activity, the stock charged back to close down only 1 5/8, or 1.8%, at 89 15/16. As for the rest of the tech sector it was business as usual, with most of the excitement generated by the momentum favorites... Leading the list of winners were Commerce One (CMRC 342 15/16 +53 13/16), Juniper Networks (JNPR 288 7/8 +15 3/4), BroadVision (BVSN 91 +7 1/2), Phone.com (PHCM 284 5/16 +15 1/4), VeriSign (VRSN 173 +11 15/32), eGain Communications (EGAN 42 +13), Kana Comm. (KANA 150 1/2 +62 7/16), E.Piphany (EPNY 120 +39 9/16), Brocade (BRCD 299 7/8 +8 7/8) and QLogic (QLGC 121 21/32 +4 11/32). Also gaining momentum were the DSL stocks such as Rhythms NetConnections (RTHM 39 1/2 +6), Covad Comm. (COVD 52 5/16 +3 5/8) and NorthPoint (30 3/16 +1 1/2). Given ability to shrug off MSFT news, bears must be nervous... Consequently, bias remains near-term bullish... That said, we would not be surprised to see some late afternoon profit-taking today as investors square positions ahead of Wednesday's PPI report... At this stage, the PPI number about only thing that could derail the tech express. Cisco Systems (CSCO75 5/16 +1 7/8) due to report earnings after today's close... Street looking for gain of $0.23 v. $0.17 in year-ago period... Company historically beats by one to two cents... We expect nothing different this quarter... For a full list of the companies reporting earnings this week/month please see Briefing.com's Earnings Calendar. Also be sure to check out the Story Stock, Short Stories and In Play pages for live updates from the AEA Technology Conference. Robert Walberg <<<<<<<< I guess we can view the market movement as having given two powerful NEGATED signals. (Last Wed's Don Class I sell, and yesterday's MSFT "debacle") I wouldn't get in front of this freight train... BWDIK? theRedDog.