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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (45389)	7/13/2000 6:16:46 PM
From: arno	Respond to of 63513

John, The P&F chart for the Biotech Holdr (bbh) supports your observations. 212 * 212 208 * 208 204 --------------* -----------------------------------------------------------204 200 ----------------* ------------------------------------------X --------- Top200 198 * X O 198 196 * X O 196 194 * X O 194 192 * X O 192 190 --------------------------* --------------------------------X O -----------190 188 X * X O 188 186 X O * X X O 186 184 X O * X O X O 184 182 X O X * X O X X 182 180 X O --------X O --------------------* --------------X O X O 7 -------------180 178 X O X X O * X O X O X 178 176 X O X O X O * X O X O X 176 174 X O X O X O * X O X O 174 172 X O O X O * X O X 172 170 X ----O ----X O ------------------------------* ----X O X -----------------170 168 X O X X O * X O 168 166 X O X O X O * X 166 164 X O X O X O X X 164 162 X O X 4 X O X O X 162 160 X ----O X O X O ------------------------X O X --X --X ---------------------160 158 X O X O X O X O X O X O X 158 156 X O X O X O X O X O X O X 156 154 O O X O X O O X O Med154 152 O X O X O 152 150 ----------O X O ------------------------X ---------------------------------150 148 O X O X X 148 146 O X O X X X X O X 146 144 * O X O X O X O X O X O X 144 142 * O X O X O X O X O X O X 142 140 ----* ----O X O X O ----5 O X O X O ----X --------------------* -----------140 138 * O X O X O X O X O X O X * 138 136 * O O X O X X O X O X O 6 * 136 134 O X O X O X O X O O X * 134 132 O X O X O X O O X * 132 130 --------------O X O X O X --------O X --X ----------* ---------------------130 128 O O X O X O X O X * 128 126 O X O O X O X * 126 124 O X O X O X * 124 122 O X O X O X * 122 120 ------------------O --------------O X O --* -------------------------------120 118 O X * 118 116 O X * 116 114 O * 114 112 * 112 110 ----------------------------------------------------------------------- Bot110 108 108 106 106

To: John Pitera who wrote (45389)	7/13/2000 6:19:51 PM
From: Original Mad Dog	Read Replies (2) \| Respond to of 63513

John, I wanted to comment on all the talk about the biotech and genome stocks' weakness presaging a general tech market downturn. I'm not buying it, and here's why. I think there is a history in bull markets of one sector's very visible overexuberance signalling the beginning of the end. It isn't always biotechs; it's whatever has become the bubble ingredient of the moment. It just so happened to be biotechs and genome stocks in Jan.-March of 2000. And it was indeed the breakdown in those stocks that told us (or should have) that the party was ending for a time. But now, in July, we have not experienced so dramatic a run in these stocks. In fact, I am hard pressed to identify any sector that has enjoyed ridiculous exuberance in the post-Memorial Day rally. Sure, stuff is up, but is any one sector really going nuts for no good reason? So I am not sharing the view that the genome/biotech weakness is a land mine to be stepped around. Just an unscientific opinion....