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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: lee kramer who wrote (93766)	4/17/2000 5:03:00 PM
From: Andrew G.	Respond to of 120523

Lee: I came back to check things around 3:10 pm EST. Wow! What a surprise to see such a concentrated lift in the top tier Nasdaq stocks. I guess Dortmunder knows best. <VBG> I was wrong about the day as a whole. Turned out different than Thursday for sure. Missed a good chunk of that rally out of hesitation but picked up & held: JDSU 85.25 CMGI 58.5 ORCL 69.5 JNPR 172 BVSN 26.875 (not too keen on last two.) Noticed how many Nasdaq stocks moved sharply higher in last hour or even last 5 minutes of the close like COVD CMTN BEAS RMBS. Even ICGE spiked to $48 momentarily from the $35 range before settling to 37 15/16. Spooked the shorts no doubt. Clearly, there is some separation going on here. But it is rather a separation along the lines of 'blue chip' tech stocks vs .rest of the tech sector as opposed to the separation of all stocks from the indexes. This leads me to believe that there was a lot of short covering of the indexes at the end of the day. This suggests that day trading is still dictating the markets moves. Up volume only 23.2% higher than combined down/unch volume on Nasdaq. Not exactly a broad based rally. But we have to start somewhere I guess. I'd like to see more intraday charts like these before I feel convinced we can keep the gains we got today: finance.yahoo.com I'm sticking to this statement, and if I'm wrong on it, it's back to the drawing board : "The estimate I quoted yesterday(Sunday) of approximately $1 trillion may be redistributed to a select few large techs in the Nasdaq and a few news driven stocks on a day trade basis. We will not see last Mondays stock prices for MOST tech stocks for at least a month or two. I feel very certain of that. " Message 13445733