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To: T L Comiskey who wrote (156)3/15/2000 7:55:00 PM
From: Boplicity  Read Replies (1) | Respond to of 13572
 
I have something to add to that. The following is an answer I was giving to someone by PM about Gorillas falling out of trees. ----> Gorillas don't climb trees they climb mountains, right now the are rolling down one hell of steep mountain. I have no idea which will be strong and catch themselves. I do know that CSCO, ORCL, will be right back at the top, but others I have no idea. Normally you should look for the ones that don't sell off that much, ORCL stand out, and the ones that come back first, since we are seeing wholesale selling, look for the ones that come back. Be warned though, I see a re-test, we will not get a V bottom, to late in the cycle for that. I'm posting this on my thread. The W bottom would fit in what Rocketman is calling for. Rocketman also, was very savvy and selling last week, and calling for the DOW to recover but he is way more bearish then calling a WE bottom. He feels we will go much lower due to the FED insanity.

Greg




To: T L Comiskey who wrote (156)3/15/2000 10:06:00 PM
From: FR1  Read Replies (1) | Respond to of 13572
 
"They just said on CNBS that they heard Fidelity is behind today's rotation. This is exactly what Fidelity did last year.."

Yeah, I agree. You don't move the DOW 300 points without major funds doing it.

IMHO, it seems really dangerous for Fidelity. Look at it this way, Fidelity sells all the techs and buys the DOW. I am a fund manager that is Fidelity's competitor. So I buy up the techs that Fidelity dumped. So I am holding semiconductors and Fidelity is holding Ford. Who's going to look good at the end of the year? Ford might be up 12% and the semis 100+%. If Fidelity wants back in, they have to dump the DOW stuff and go back to techs. Too late! The techs have been bid up past the level Fidelity sold them at

It's a very tricky game trying to get rid of the DOW and back into tech before you find yourself in a minus position. I know they are good at it but someday the "Quick Draw Kid" is going to get a bullet while the gun is half out of the holster. The down ride is almost over. How fast can you draw?