Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Retail Sector Earnings Reports -- Ignore unavailable to you. Want to Upgrade?

To: SusieQ1065 who wrote (243)	11/15/2003 12:12:03 PM
From: SusieQ1065	Read Replies (1) \| Respond to of 246

That is the current trend. Buy the dips not buy the tops. Each time we near the prior highs the bids evaporate and we go back down again. Despite the strong internals the market still feels heavy. This is giving the bears hope and helping to push it higher every time they are forced to cover their shorts. One thing I noticed today was a rotation into drug stocks. This could be a leading indicator of some tech weakness ahead. Drugs have literally been killed over the last year while techs have been climbing. When institutional investors decide techs are overblown they tend to rotate into drug stocks for safety until the techs correct. This was the second day that drugs have rallied and PFE, MRK, LLY, etc all rallied strongly. PFE jumped +1.05 on 2.5 times its normal volume. PFE was helped by some news that Lipitor slowed the buildup of plaque in arteries. This is the kind of news that is typically used as an excuse for the rotation but a quick look at a few drug company charts shows the uptick started several days ago. Watch the drugs for strength, the techs for weakness and the internals for direction. ~Jim Brown, Thursday: November 13, 2003