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Strategies & Market Trends : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: techanalyst1 who wrote (10786)	3/8/2002 1:34:46 PM
From: stockman_scott	Read Replies (1) \| Respond to of 57684

RESEARCH ALERT-Merrill raises tech to 'market weight' Mar 8 2002 12:00PM NEW YORK, March 8 (Reuters) - Merrill Lynch on Friday said Global Technology Strategist Steven Milunovich moved up technology stocks to market weight from underweight allocation saying positive indicators are building. "We are moving from a modest underweight in tech to a market weight -- roughly 17 percent of the S&P 500 and 30 percent of the Russell 2000 Growth Index," Milunovich. "That's a small percentage change for us, but the direction is important." In the past week, the Merrill Lynch Technology 100 Index <.MLO> jumped 15 percent, while the larger and broader S&P 500 Index <.SPX> rose 5 percent. "Our indicators are mixed, and we expect tech to trade in a range," he said. "Momentum indicators have gone positive, but we remain concerned about structural problems and high valuation." On Friday, the Merrill Lynch index was up 2.26 percent, while the S&P index rose 1.06 percent.