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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Ram Seetharaman who wrote (39700)	11/15/2000 5:27:18 PM
From: Elmer Flugum	Read Replies (1) \| Respond to of 70976

Group Rotation Makes The Market Go Round thestreet.com "In the same way we watch for stocks that no longer react to good news on the upside, we watch stocks that hold on the downside in the face of bad news. It wasn't hard to notice that the SOX didn't break its previous low during Monday's continued decline in the Nasdaq. The SOX almost broke 600, but instead reversed to close up on the day. Pencil that action on the positive side. First, the SOX made its high back in March, when the Nasdaq did, so it's been in a decline for eight months already. There should come a point at which the selling dries up. At least in the short term, the SOX appeared to be tired of going down Monday. When we get that kind of action on a day when the Nasdaq breaks a level that everyone is watching, we must give credit where credit is due."