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

To: bobby beara who wrote (41475)	2/26/2000 12:40:00 PM
From: Michael Watkins	Respond to of 99985

BB - thanks - that's certainly what I expected to learn. Its essentially the same issue in the Canadian indicies - the TSE 100 and 300 are being held aloft primarily by BCE and NT. I reopened my short of the Canadian market this week - a good tech pull back will provide some further opportunity. The one problem with Canadian indexing is in the event of a big downturn we might see gold or oil or mercy forbid, both, rally very strongly - that might spoil things for my short. Meanwhile I keep watching much of the oil sector pull in terrible returns when for the producers they should be making more than ever. We have a couple of oil producers as clients, certainly cash flow does not seem to be an issue these days for them :) yet their stock performance is terrible. Perhaps its been the tech sector rotation sucking money out; perhaps there is something else at work here. If they start to rally, for whatever reason, there may be some interesting opportunities here.