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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: advocatedevil who wrote (56263)	11/26/2001 8:25:47 AM
From: advocatedevil	Read Replies (1) \| Respond to of 70976

6:56am 11/26/01 Still just an 'oversold bounce': BofA ($INDU, $COMPQ) By Tomi Kilgore Tom McManus, equity strategist at Banc of America, continues to see the recent stock market rally as an "oversold bounce." He believes the recent institutional demand for stocks, which he feels was driven by pension plans resetting their target mix of stocks and bonds, will soon begin to tail off. Among factors McManus sees weighing on stocks are tax-loss selling in December, the coming fourth-quarter preannoucement season and "problematic" valuations. "We continue to suggest investors proceed cautiously; a retest -- at least -- of the September lows still seems possible over the near term," he said in a note to clients. The Dow Industrials ($INDU) closed Friday up 125.03 at 9,959.71 and the Nasdaq Composite ($COMPQ) added 28.15 to 1,903.20, or 24 percent and 37 percent above their respective Sept. 21 lows of 8,062.34 and 1,387.06. marketwatch.com; AdvocateDevil