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To: Poet who wrote (4655)	3/11/2000 9:19:00 PM
From: Poet	Respond to of 8096

I'm pasting this post by Rocket Man , made on the JDSU thread, about the current state of the maket, hoping we can get a weekend discussion going: To: Gregory Mullineaux who wrote (7509) From: RocketMan Saturday, Mar 11, 2000 10:35 AM ET Reply # of 7515 This market is driven by a lot of liquidity chasing an increasingly narrowing set of winners, which are winners because the money is chasing them, so it is a vicious circle. In other words, it has become a mo-mo trader's market. No one wants to touch the Dow stocks because they are under the Fed's thumb. No one wants to touch non-hot tech stocks (ie, qcom) because no one is touching them. Fundamentals don't count, nor earnings. But on the slightest whim that they might get hot again, the money flows in, as qcom and jdsu did yesterday afternoon, if only for an hour. Eventually, when the market has better direction, and mainly when the Fed fears are finished (if ever) I think we will see the mother of all rotations, and the Dow stocks will be where the action is. I'm holding back a lot of cash waiting for that to happen.