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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: nsumir81 who wrote (11232)	3/17/2002 7:40:14 PM
From: Killswitch	Respond to of 19219

I meant higher high, not new high. My bad. What, you don't believe Dow Theory ? :-)

To: nsumir81 who wrote (11232)	3/17/2002 11:01:06 PM
From: bobby beara	Read Replies (1) \| Respond to of 19219

The NAZ has remained depressed in favor of the DOW and 'older' type stocks, relatively speaking. Remember, just 2 years back, they said the DOW was an index that had become irrelevant (or less relevant) in relationship to economy that was fallicous bubblelonian thinking (an excellent contrarian event - i remember the LA Times Weekly Biz beat writer had a two week column about which tech stocks should replace some of the old eco stocks in the underperforming dowdy Dow - that was in early march 00 =g=), the dow has way outperformed the naz in the last two years, if you look at the NY a/d line it bottomed the day the naz topped on 3/10/00 everybody bought that line and dumped so called "old eco' stocks from mid 99 to march 00 and bought no earnings dot coms and anything else tech, it got so rude, MO was yielding 10% in march 00, they were dumping that to buy ask jeeves or exodus or commerce one -lol- now people have been brought back to reality, that tech is a sector and is just as cyclical as everything else, after the huge cyclical boom, it is now in a cyclical bust and may underperform the rest of the market for some time. Money has rotated from one set of stocks to another. The NAZ has remained depressed in favor of the DOW and 'older' type stocks, relatively speaking. <<<<< Now i've been wondering if we would have a similar switcheroo sometime where everybody hated tech stocks and everybody loved dow (or value) stocks, probably not, at least not now, and probably the whole market will run in sync, they still have a whopper 6-1 bull to bear money in otc/arktos at major bottoms, a 1-2 to 1-3 nova/ursa ratio at bottoms.