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

To: sandiegobear who wrote (31901)	10/3/2000 8:34:16 PM
From: Stephen	Respond to of 42787

David, I think the market was possibly expecting an IBM pre-earnings announcement (as per rumour) and/or some kind of negative announcement from Oracle (and perhaps Merrill provided something almost as good). That being said .... I don't like the tech action (distribution) and historical parallels with prior crashes. Also ... as I mentioned previously ... each dawning decade has always had a new market sector leader ... so I'm not sure why this one should be any different - which potentially means all those who are used to playing the tech bounce are in deep whatsit. And lets not forget - this is most of the recent investing public. Only last autumn I read stories where large privately managed funds had been redirected purely to tech growth (a sure sign of a top) because those individuals felt they had had missed out on the great bull run. Those people are no doubt crying in their scotch right now perhaps... ?. Even my mother-in-law wanted to do something similar with her managed funds ... and I think they were re-jigged somewhat but maintained a balanced bias. 4-5 years ago when the tech market sold off, the retail investor would buy and drive the price back up ... and the fund managers and institutions would follow. Now ... with the funds trading and 'investment arms' of many leading companies also going in and out of the market daily, the retail investor has less power. I noticed that some of the funds I follow that previously had mostly techs as their top 10 holdings, had power & biotech as their top holdings 2 qtrs ago. As at last qtr end, B2B stocks had made a come back - power was out and bio was reduced. The rotation in these funds is amazing compared to what most people are used to. Times, they are a-changing .... and, more importantly, perhaps people are starting to realise it .... ?? Regards Stephen