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

To: Benkea who wrote (45473)	4/9/2000 9:44:00 AM
From: Benkea	Respond to of 99985

"But an astonishingly large number of stocks are in bear-market territory: as of Wednesday's close, 67.8 percent of stocks in the Standard & Poor's 500 were down 20 percent or more from their 52-week peaks, according to Salomon Smith Barney, and 84.9 percent of stocks in the Nasdaq composite." "The greatest gyrations are in the Nasdaq composite. Leuthold Weeden, an investment advisory firm in Minneapolis, says the index has moved 3 percent or more from the previous close on less than one-half of 1 percent of all the trading days in the Nasdaq's 29-year history. This year, there have been such moves on 27 percent of trading days." "Christine A. Callies, chief equity strategist at Credit Suisse First Boston, says the love affair is waning. As of Wednesday, she noted, roughly a third of technology shares were down at least 50 percent from highs hit in the first three months of 2000. "Once traders have lost money faster than they made it, speculative fervor dies quickly," Ms. Callies said. She does not expect technology stocks to recover their market leadership role for several quarters." nytimes.com