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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: shasta23 who wrote (25937)	4/5/2000 1:48:00 AM
From: Johnny Canuck	Respond to of 68396

From Briefing.com Sure enough, investors finally started dumping money back into the tech sector. Momentum favorites such as Ariba (ARBA), RF Micro Devices (RFMD), Inktomi (INKT), Digital Island (ISLD), F5 Networks (FFIV), Puma Technology (PUMA), Network Appliance (NTAP), Sun Microsystems (SUNW), BEA Systems (BEAS), Broadcom (BRCM), PMC-Sierra (PMCS), Asyst Tech (ASYT), Ciena (CIEN), SDL Inc (SDL) and Powerwave (PWAV) surged into the close. In some cases the gains were staggering. For example, F5 rallied 61% from its intra-day low! While many on the street, and in the media, were warning investors not to get carried away by the rebound, Briefing.com contends that the sell-off is over. The market/sector might not go straight up from here, but the path of least resistance is now to the upside. And as soon as the sector begins to build momentum, investors will pour back into techs for fear of missing the next major up move. Volatility is a part of today's investing, as the relatively cheap and immediate access to information has resulted in very rapid money flows. Most small investors have come to accept this fact and no longer view wild swings as alarming. In fact, I didn't encounter one person over the past several days that expressed anything resembling panic regarding the state of the tech sector. To a person, they were waiting to take advantage of the decline to add more to their stock holdings. Apparently, they found the early drubbing yesterday to their liking. So did we. Bottoms set during selling climaxes are rarely tested. To the contrary, those that wait around for a such a test miss the most profitable stage of the rebound, and are forced to play catch up later on.