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To: Gary Burton who wrote (55044)11/19/1999 9:56:00 AM
From: SliderOnTheBlack  Read Replies (1) | Respond to of 95453
 
GaryB; re: a pullback...


This one may be a bit different imho; I think because we are close to quickly turning fundamentals - 1,2 qtrs; that individual stocks may separate themselves a bit from the index, or the sector moves.

There are some laggards, some individual "stories" ala~ GLBL, or MDR for example. And this may be a good time for some laggards to back & fill - even into a large cap pullback from the OSX components themselves. HOFF had some nice buying against the grain - indicative of a fund buying in/adding here...

Good time to be a stock picker; to use laggards, to stay in stocks with the superior underlying fundamental momenteum - which is the Crude leveraged E&P's right here presently...

I would think that OSX 72-75ish looks like enough of a dip under fair value where most stocks would once again get nibbling and buying support. Then; with Y2K ever close; with the winter weather ever close - which triggers a mindset sentiment change; all we need is 2 nice consecutive weeks of major API drawdowns and "then" with the crude futures markets cooperation - we may just see that spike in crude thru $30 into the new year & an accompanying OSX spike to 100...

A good time to take "some" profits here; no reason to close any total positions - and certainly a time not to be margin leveraged - into a pullback.