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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: signist who wrote (26367)	10/27/2000 8:50:17 AM
From: signist	Respond to of 42804

OT Trader Notes Schwab Capital Markets L.P. Member SIPC/NASD Friday, October 27, 2000 Page 1 of 4 Market Analysis John A. Mendelson – Market Analysis Scott B. Evans -- GROUPS: As mentioned in John Mendelson's morning note on Sept. 26, the deadline for mutual funds to minimize capital gains is Oct. 31. As this date approaches, tax selling by portfolio managers to limit capital gains, in my view, is contributing to the overall volatility in the general market. There are a few sectors that have continued to act strong throughout this period, among them are the energy, natural gas and oil services issues, as well as the property and casualty stocks. One group that may offer some protection during the current decline, is the traditionally defensive food issues. Because of the current "closed circle" in portfolio management, mutual fund mangers who do liquidate a position are forced to quickly employ those funds back in the market. The Standard and Poor’s SuperCap Foods Index (SCFOOD - 132) is a capitalization-weighted index that measures the performance of the foods sector of the S&P SuperCap index. This sector has hovered near the bottom for over two years, and has recently begun to show some signs of life. The SCFOOD index, up over 36 percent from the bottom in March, is currently testing resistance in the lower 130s. With the inability of portfolio mangers to move to cash, perhaps the food group will look ripe for the picking if the current market volatility persists. Industry Group Statistics John A. Mendelson –Market Analysis Percentage Changes Equity Index Ticker Daily 30-day YTD S&P 500 Cash Index SPX -0.03 -4.40 -7.13 Morgan Stanley High Tech MSH +2.12 -8.68 -3.15 Pacific Stock Exch Tech PSE +1.64 -11.17 -4.47 The Street.com Internet DOT +2.29 -24.26 -51.46 Philadelphia Semiconductor SOX +6.15 -18.92 0.20 AMEX Oil XOI +0.30 -0.33 2.36 Toronto Oil & Gas 0302I -1.21 -4.04 30.87 Phil.Oil Service OSX +1.11 -7.75 38.11 AMEX Biotech BTK +0.97 -3.21 88.49 S&P Major Drugs SHCDM -0.50 8.37 29.10 MS Consumer CMR -0.14 5.54 1.76 MS Cyclical CYC +1.24 -0.51 -24.61 NYSE Financial NF -2.00 -4.68 12.77 Philadelphia Bank BKX -1.71 -8.15 3.91 Phil. Gold & Silver XAU +0.94 -12.62 -37.02 Wilshire Small Cap WSX +0.66 -6.14 0.79 Mendelson & WRG Morning Notes @ October 27, 2000