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Strategies & Market Trends : The Options Box -- Ignore unavailable to you. Want to Upgrade?

To: Poet who wrote (9862)	3/5/2001 9:29:13 PM
From: hobo	Respond to of 10876

The view of the Market Bug: Monday, March 5, 2001 Slow Ride The Semis led on the upside again on Monday, following further negative news in the sector. The group climbed another 5 percent today, better than 13 percent in the last three sessions; all on the back of negative news. The rally here has coincided with new lows in the Japanese market and in the Japanese Yen. Further deterioration in these markets would be a negative, but some improvement could really help to spark the group further. Conversely, new lows in the Semis a this point would be succinctly negative. The broad market continues to look like it has bottomed. Late Friday, when the Nasdaq had reversed to the downside, the broad market stayed strong. Semis also held positive on Friday. Oil Service stocks, currently scoring best in our industry group ranking, have also posted a couple of strong sessions. Several names here have moved onto and up in ranking on our stock screens as well. Software and Networking are currently last among 23 ranked industry groups. Moving down in our ranking of late has been the Retail index (RLX). The group has yet to close below its 200 day moving average, however, and several Retail names are reporting this week. Keep a close eye here for either a return to strength or a possible break of support. The group is currently ranked No. 17 out of 23 on our quantitative screen. Brokers have deteriorated in ranking as well (now No.19), but the group may have made a higher low; watch for possible improvement here. Recently improving sectors, besides Energy and Semiconductors, have included Papers, Chemicals and Cyclicals. Metals have held their new high ranking for the past few weeks. While the anticipation of rough weather in New York caused activity to decline, a slow start to the upside can be the best way to come off a bottom. And remember, another 50 basis point move down in rates should not be far off. The Nasdaq may or may not have further kinks to work out before it can climb considerably, but the broad market looks to be leading us higher already. I took their "trial" subscription.... (I like Hanhn's material better)