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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?


To: GROUND ZERO™ who wrote (703)4/2/2000 5:10:00 PM
From: Dan Duchardt  Read Replies (1) | Respond to of 33421
 
GZ,

the only mystery on Friday was the DOW

When you consider that four technology components of the DOW; MSFT, INTC, HON, HWP added over 53 points to the index (throw in UTX for almost another 10 if you like), keeping it from closing down well over 100 points, is this really such a mystery? The NASDAQ rally signaled a rotation back into techs, strong enough for some to move money out of the non-tech blue chips to catch the wave. I think we have been seeing NASDAQ and the DOW out of phase for a while now, and I expect it to continue as long as the broader market continues a general uptrend. We have a lot more money chasing the momentum these days.

Dan