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Technology Stocks : IDTI - an IC Play on Growth Markets -- Ignore unavailable to you. Want to Upgrade?

To: Tom Caruthers who wrote (11498)	6/29/2003 2:26:54 PM
From: Rob S.	Read Replies (1) \| Respond to of 11555

It looks like it broke the neckline and is now testing it. The market typically has some positive bias going into the July 4th holiday period and due to end of month window dressing. Since we have already seen a big move in the NASDAQ and fund flows into equities have been positive (last week was -1.4 billion, a slight upset in the trend), there has been a lot of window dressing as managers don't want to look like they have missed the rally. Most of that is probably over but even as Wall Street pros take vacation early the enthusiasm of individual investors around the patriotic holiday may continue to put some upward bias on the tech sectors. The chart pattern seen in IDTI is similarly seen in the leading tech sector indexes. The rally appears to be losing momentum and a double top has formed nearing strong resistance. With so much stimulous there is still strong currents that can swell the market to higher multiples. But I expect some downside to occur after the holiday and into the summer. Here is one discussion of the current outlook that I generally agree with: highgrowthstock.com