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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (6070)	7/16/2001 1:27:23 PM
From: $Mogul	Read Replies (2) \| Respond to of 208838

SECTOR TALK: The behavior of the equity market's key sectors suggests that today's drop in stocks is largely a consolidation of last week's strong gains; both cyclical and defensive groups are down. the defensive drug group, for example, is down about 0.8% despite the weakness in the overall market. Drug stocks would be stronger if market participants were worried about the overall health of the market. Similarly, transportation stocks would likely be weaker if there were broad concerns about the stock market. The transportation sector topped all others last week, so its continued strength suggest that investors are becoming increasingly optimistic about the outlook on the economy and that today's pullback is merely a consolidation. This makes today's rally in the bond market a bit suspect.