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

To: el paradisio who wrote (66747)	1/12/2001 3:57:22 PM
From: Doug	Read Replies (1) \| Respond to of 99985

EL: Semis and BANKS earnings are due next week. Large money centerd banks have large syndicate loans which they are desperately wanting to sell off in the secondary mkt . There is no melt down as write off provisions have been ramped up. The problems are bank specific and can be corrected. The $indu likely neutral to down . SOX is a much bigger problem.. Huge inventory build up has caused growth prospects for Q1 and Q2 to almost nil to 4%. Basd on the past P/e's during a recession, SOX is overvalued and likely to see a drop to match its earnings for Q1 and 2. On the +ve side big Blue new Main frame is doing well and will help. Software too is also on an up leg. On balance , there are storm clouds .