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Strategies & Market Trends : Don't Drink the Kool-Aid Kids -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (835)	9/8/2001 8:49:43 AM
From: AugustWest	Respond to of 1063

Dumb Deals 101 msnbc.com

To: Jorj X Mckie who wrote (835)	9/9/2001 11:46:56 PM
From: John Pitera	Read Replies (1) \| Respond to of 1063

I have not been doing much buying yet. There were some encouraging signs, shorter term on Friday, but it still seems pretty thin and nasty out there. I think that the point that many have mentioned about mutual fund tax loss selling occurring in Sept and Oct has some validity... Yardeni's note that was in today's Barron's makes some sense to me.... SEPTEMBER 4 ~ I've recommended being underweighted in technology since the start of the year. By the end of the year, I might be tempted to be an aggressive buyer. I think another round of tax-loss selling in September and October by mutual funds could push tech stock prices lower still. The same thing happened last year. Of course, a selloff in the technology shares would take the broad averages down too, especially the Nasdaq. This tech-heavy index is probably going to test the year's low of 1638 soon. If it should break below that level, then 1400 is probably the next key support level. The Dow Jones Industrials are also likely to test the bottom of its two-year trading range, but I think it will hold that level. I see a similar scenario for the S&P 500 over the rest of the year. -- Edward Yardeni