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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Robert Graham who wrote (7608)	4/19/1998 12:38:00 PM
From: Chris	Read Replies (1) \| Respond to of 42787

hi bob g. great to see your posts. as always, you correctly questioned the leadership in the mkt.. i think my reasons for not playing the techs recently was because of the lack of direction for the techs. if you really notice, only the internet stocks were going up.. and those were considered the defensive group (from the asian flu).. dell and msft, has been consolidating for awhile. currently msft is stronger than DELL (Ta wise) back to the mkts.. there is a lack of "external shock" to down this mkt. this is in reference to the asian flu that shook the mkt in october. Thus, i only see it as a minor top/consolidation. but i have seen multiple signs of weakeness -- chip chart's mc clennan oscillator has shown weakness, my new hi/lo system is on paritial sell right now, and i looked at the sector charts.. it's in these sector charts that i see "topping action".. i recall only the financials, basic materials, and consumer sectors still doing relatively well.. the other sectors are "slowing down".. i think many people are taken back by the result of the amt of $$$ coming into the mkt. this mkt is not the same mkt 10 yrs ago (i wouldn't really know since i was still a kid) <g> but i think it's a different mkt, and using purely the PE's and fundamentals to guage the mkt as "overvalued" is not revelant anymore.. PEs might be high, but as long as the mkt is strong and $$$ is coming in, the mkt will continue to go up.. just some of my thoughts.. take care bob g..