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To: Trader X who wrote (12320)2/23/1998 11:44:00 AM
From: Proud_Infidel  Read Replies (1) | Respond to of 17305
 
Re:One of the reasons the Naz has been able to move back to old high
territory is due to the relative strength of the semi and semi equip
stocks.

This is a moot point since the NAZ is market-cap weighted(versus price weighthed Dow) and the semi-equips, at least in terms of market capitalization, make up a very small portion of that index. IMO, this run is being fueld by those large cap names hiiting new highs daily MSFT, INTC, CSCO, DELL. Each of these names has a market cap at least 3x that of AMAT, the largest equipment co. The RS of the equipment stocks has little to nothing to do with the current run IMO.

Regards,

Brian



To: Trader X who wrote (12320)2/23/1998 11:45:00 AM
From: Patrick Slevin  Read Replies (1) | Respond to of 17305
 
I tend to agree, my WAG is that it shall be pushed higher but will not have the legs to sustain it more than a few days.


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