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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Terry Whitman who wrote (23461)	8/6/1998 12:03:00 PM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Terry; I've liked the SOXX for about a month now, a tad early I'll admit but it has backed up very little since then and now shows gains , and getting stronger. That is a very volatile sector by nature, but I think she has most of her damage behind her ..and could be the leading indicator of things to come. It's not what I call a major index, as there are only 16 stocks in it, and INTC is the only super cap. But it's not a weighted index, and so when those smaller caps in it start up it can move fast. By the same token when it sells off it can drop fast, the chip biz may be depressed, but it's what makes these things work and it's not going away. More and more it looks like a leading indicator to me, it hit it's low back in June and has simply refused to go down below taht..now it's breaking out. Short term an interest rate hike could kill the market, longer term any meaningful increase in oil prices could slow or stall recovery in ASIA and then come home to us. If those two don't toss a wrench in the gears we are going UP from here. Jim