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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: HoodBuilder who wrote (41092)	6/2/2003 9:09:45 AM
From: J.B.C.	Read Replies (1) \| Respond to of 57110

I'm not sure I know what the implications are? Could you please elaborate? Thanks Jim

To: HoodBuilder who wrote (41092)	6/2/2003 9:14:34 AM
From: PuddleGlum	Respond to of 57110

Michael- There's also the reversal upwards on the 200 day MA for SPX. That one has given me plenty of food for thought. Don't forget the cup and handle formations on HHH, NDX, and some other tech holders. I posted several days back that I'd have to give up my bearish stance if the SPX stayed over 950 for more than a day or two, and it has been over 950 for 3 out of 4 days. Even though the biotech sector seems richly valued one can't ignore the fact that several significant drugs have gained approval or made excellent clinical progress recently, and those companies with big drug pipelines are now seeing those pipelines valued much more highly than before. Lots of factors make me feel like I'm in denial by holding a bearish stance.