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

To: pater tenebrarum who wrote (52907)	6/2/2000 8:28:00 PM
From: American Spirit	Read Replies (3) \| Respond to of 99985

Well here we are. Summer rally. Left some money on the table by being too cautious but still time to get in on the 2nd, 3rd and 4th waves as sectors rotate. I goofed selling SUNW and VOD on Tuesday but bought back heavily in the past few days in the second tier groups which include telcos, computers, beaten down retailers. Am now considering other beaten down gems. Small caps and high-tech industrials. Waiting for drug stocks to fall further. I'd say we rally for a month here but that the sectors rotate continuously. In other words if you missed owning wireless and semis better move onto the next groups. For the conservative my favorite type stocks now would be the under-appreciated big name techs like IBM, AAPL, CPQ, GTE and T. QCOM could also pop 50%. We're not going back to the old highs and internets won't fully recover for years but we might get close in many sectors. In fact there were more than 100 new highs made today (none of which I own unfortunately, gg). I expect no more Fed rate hikes (though there might be some anxiety and doubt)and unless something changes I'd say we're looking to get back into the green for the year. But of course anything could happen - and quickly - as it just did. As a bargain-hunter I'm looking for what went up only slightly or even went down today. Buy as low as you can then give them a few weeks to recover. Wait for the rotation. I'm terrified of buying too high so I'll stock to being cheap. One thing I know, we've seen the bottom and it was about ten days ago.