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

To: Robert Graham who wrote (8773)	5/21/1998 3:59:00 PM
From: Judy	Read Replies (1) \| Respond to of 42787

Yesterday was not the first evidence of this rotation ... yesterday was BLATANT which sectors the funds were fleeing out of and which sectors they were falling all over themselves to buy. Semis and oil drillers were slammed ... defensives, they couldn't get enough off. I posted to Andrew yesterday, the big boys were loading up on DIS and MCD ... for summer is around the corner, the fundies don't want to wait two quarters for their portfolios to look good by buying into techs. I'm a perma-bull on the semi equip sector, waiting for the sector rebound. But even I dumped my AMAT shares at the recent high and replaced them with leaps, taking some money off the table while waiting for market to see the inevitable. A matter of when and not if. CAT, it tries my patience ... this one is like watching grass grow.

To: Robert Graham who wrote (8773)	5/21/1998 4:07:00 PM
From: Judy	Read Replies (1) \| Respond to of 42787

Bob, the funds do not have to deploy their money right away. It would be prudent to wait a few weeks until earnings warnings are out for 2Q, and then pounce, especially with Asian worries resurfacing and instability brewing in the region. Also I'd expect the fundies to have a party call over this 3-day weekend to decide what to buy on the next shoppping spree. That's how the herd operates ... the more, the merrier. Frankly, watching the daily flux and listening to the news media can drive one nuts.