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

To: Timetobuy who wrote (81237)	8/6/2001 5:14:12 PM
From: t2	Read Replies (2) \| Respond to of 99985

Well we found out that the energy sector did not hold up. I had thought about the bubble in this group forming a few months ago but did not trade it aggressively on the short side---there were just too many mergers and acquisitioins deal taking place to knock these stocks down. Now they are dropping. There was one article a few months ago noting the overbuild (NY times I believe). Too many of the strong stock groups are falling down. Gaming and resorts now weak. REITs are probably next; real estate related stocks seem vulnerable accross the board. The gloomy picture you have painted just seems possible and is enough to make longs nervous, including me. I am still looking for a pop after Cisco reports earnings and then probably take a wait and see approach and get back in the day the FED meets---expecting a one day rally one day after--August 22.