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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: donald sew who wrote (23422)	5/24/2000 11:22:00 AM
From: pater tenebrarum	Read Replies (2) \| Respond to of 42787

Don, the Dow, OEX, SPX all bounced off a support trend line that has been tested repeatedly. i think on the next test it may well break. imo the big funds are throwing other people's money at the spoos and selected big cap index heavies in order to see if they can defend these supports and draw some buyers back in. they must be filled with nameless dread when looking at their tech holdings. for some completely unfathomable reason everybody seems to think the banks are now where it's at. i believe the banks should be avoided...technically the BKX doesn't look all that bad, but fundamentally i think the banks will increasingly face loan defaults as the quality of credit has markedly declined in recent years. a big Austrian bank recently had to write off $100 million in US dud loans. as the economy slows, this tendency will become more pronounced imo. regards, hb