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To: horsegirl48 who wrote (7225)	4/19/2002 8:23:51 AM
From: Sig	Read Replies (3) \| Respond to of 13815

Im thinking we have seen the bottom with the overnite recovery in the Nas. Maybe IBM and Msft are not growing as fast as hoped, but what investors most wanted was proof things were not getting worse and they got it. With Intel and Msft investing multi -billions in research this year means they are very optimistic that there is a big market for new tech products and I dont see who else could tell better whether that is true. .Sig

To: horsegirl48 who wrote (7225)	4/19/2002 9:00:35 AM
From: Venkie	Respond to of 13815

I don't know if their overblown or just up from the lows.

To: horsegirl48 who wrote (7225)	4/20/2002 8:49:08 PM
From: Bandit19	Respond to of 13815

Horsegirl, Re: look at the reits..... but all these value stocks r so overblown at this point its hard to invest in them now, :0( I wonder where this will all lead........ Here's John Murphy's opinion....(sorry charts won't copy) Fri, Apr 19, 2002 (#2) - REITS LOOK OVER-EXTENDED Posted: 11:20 AM Eastern REIT INDEX LOSING MOMENTUM... We've shown several charts of the Morgan Stanley REIT Index setting record highs. Having seen a bullish story on CNBC this morning, we felt it was time to take a second look. And, we don't like what we see -- at least over the short run. First of all, the RSI line along the top is falling from an overbought condition to the lowest level in two months. Secondly, the REIT Index is threatening its 20-day moving average, which has supported the advance since early February. A close under that average would be negative. ADX LOOKS TOPPY... The next chart plots the (black) ADX line and two measures of buying and selling pressure. The positive (green) line has been over the negative (red) line since early February -- and has been diverging. That's reflected in the rising ADX line. However, the ADX line has gotten over-extended (over 60) and is starting to turn down. That's usually an early sign to take some profits. The second chart shows that the last time the ADX line turned down from over 60 (last June), the REIT group was on the verge of a rough period. That doesn't mean we're turning bearish on REITs. We just think this might not be the best time to put funds into that over-extended group. In fact, it might be a good time to take some out. The fact that CNBC has just done a bullish story is another reason to be cautious on REITS. more... REIT CAUTION... We warned earier today that the REIT group was looking a little toppy. We encourage you to review that earlier update -- based primarily on a peaking ADX line. The chart below shows the Morgan Stanley REIT Index -- with three short-term indicators. The RSI line along the top appears has fallen back under 70 for the first time in two months -- signalling loss of upside momentum. The MACD lines (along the bottom) have turned negative. The Parabolic SAR dots on the price bars have turned negative -- for the first time since February 11. Rising dots under the price bars are sell stops protecting long positions. When one of the lower dots is hit, the system reverses to the sell side. It did that four days ago. It's a sensitive trend-following system. But is especially good at giving early exit signals. Although the major trend in the REITs is still positive, we think it's time to cash in some profits.