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

To: iod_sherwood who wrote (72443)	3/17/2001 11:45:05 AM
From: Robert New	Read Replies (2) \| Respond to of 99985

Still sticking to a broad U shaped recovery. Ive been saying for some time that what concerns me MOST is that given our large sell off insider buying amongst the techs is STILL near all time lows. What does that say? When the NT CEO Roth bought a large block of shares in the open market and then 10 days later they warned that spoke volumes. If insiders aren't confident enough to buy at current levels AFTER this huge fall then why should we? Insider purchases were much higher during the SEPT/OCT 98 timeframe. Also share buybacks are few and far between another sign that there is little confidence going forward. When these two signals begin to change then I will change my outlook on the techs everything else held equal. I do think we will see an excellent buying opportunity for those who are patient on the long side later in the year.