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

To: James Strauss who wrote (42376)	3/6/2000 11:00:00 AM
From: Michael Watkins	Read Replies (1) \| Respond to of 99985

James What you are describing is a stock pickers market... What you are describing is a momentum stock pickers market A subtle difference but different, in my books. Before you answer consider for every chart of todays hot momentum stock, I can find a chart depicting yesterdays / last weeks / last years "hot stock pickers stock" now belonging to the unloved and beaten down category. Including tech stocks. Momentum only "investing" is like musical chairs. All the participants think they can get out at the bid, but the reality is there's only one chair left and the rest are going to be out. I'm not suggesting momentum "trading" isn't highly profitable, but there's plenty of folks that are not going to get on that last chair when it ends. In life anything that is too easy to be true almost always ends up being so.

To: James Strauss who wrote (42376)	3/6/2000 11:04:00 AM
From: Lee Lichterman III	Respond to of 99985

True, I was just pointing out the FA picture which we all know is mute in this market environment. As Les just pointed out, it is a rapid rotation market where buy and hold returns are few but eth quick are rewarded as long as they don't slow down. <g> Nuts are up today while many of the semis that were hot last week are getting hit today. RFMD down after a strong run last week, AMAT the same. I am seeing a lot of pumping going on today so far but since I am not used to watching the tick by tick, this may be a normal thing lately. CSCO SUNW QCOM and many others I was watching this morning were weak but after a few false starts are trying to puch the index over 5K. Good Luck, Lee