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To: Road Walker who wrote (103304)	5/11/2000 8:44:00 AM
From: Road Walker	Read Replies (1) \| Respond to of 186894

Retail sales down .2, ex-auto flat, equity futures rally, stock bids up. We'll see. John

To: Road Walker who wrote (103304)	5/11/2000 1:30:00 PM
From: Rob S.	Respond to of 186894

Got it. It looks like some accumulation occurred yesterday. IMO, the tech stocks are technically oversold and should continue with a rally for at least a couple days despite the nervousness that persists. I don't think the semis will see new highs and probably won't even surmount the level set during the previous rally for a few months. Although sales and earnings momentum is positive, prices had reached levels based on earnings 1-3 years out. During the "dog days" of summer, I don't think the market will muster the enthusiasm to sustain a rally. I expect the NAS to reach a new yearly low by October while churning and base building. From there, the market should move higher. Any forecast is only a guess of course.