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Technology Stocks : WDC/Sandisk Corporation -- Ignore unavailable to you. Want to Upgrade?

To: Kayaker who wrote (25596)	4/15/2004 1:50:31 PM
From: Kayaker	Read Replies (1) \| Respond to of 60323

Briefing.com suggesting a "retest of March lows". 11:50 ET Floor Talk : Market participants are focusing on the short-term sentiment shift caused by the new focus on a rising interest rate environment. This is leading to defensive buying in groups such as Drugs (+2.4%, see 10:51 comment) and profit-taking in high-multiple sectors such as Semis (SOX -2.9%). The shift in sentiment has drawn many traders into short positions on view that markets are poised for a retest of March lows, which would imply another 5% in downside for the Nasdaq. Of course, heavy shorting has been a recipe for major price volatility, which suits most traders just fine. In the short-term, likely to see the sell-side defend technology stocks as profit-taking leads them lower, the buy-side shift into lower multiple/defensive groups, and traders short breakouts to the downside and become more selective when chasing the runners. www2.briefing.com <font size=2><font color=silver>...from i vitale over on IH...