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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (16398)	10/7/1998 9:03:00 PM
From: wiley murray	Respond to of 120523

Jenna: Good observation. I lurk on your site at times, and admire how you share information. You have a very sincere dedicated approach to the market. Keep up the fine work.

To: Jenna who wrote (16398)	10/7/1998 10:41:00 PM
From: Jenna	Read Replies (2) \| Respond to of 120523

Another Perspective on Position/Short Term Trades. Defensive - protective against attack, danger or injury.. that's what the word means in the dictionary. But the NYSE stocks we have seen running lately are more than just that. Thes stocks we refer to as 'defensive' are not just 'temporary' hedges to defend against present danger, (namely losing your money) but are intrinsically good trades both short and intermediate. They are companies with clear earnings projections, products needed all over the world (GE,CLX,G,PG,PFE,MRK,KO,CL). Their prices have dropped and are now at better valuations. They will be finding their way back into long term and intermediate portfolios. What is happening is that volume in NYSE companies like these are expanding, while volume in NASDAQ is contracting. NYSE companies are probably just bottoming and are becoming just as attractive to traders as the large cap techs have been from the first of the year until end of July. I've been including them more and more in the watch lists but have not really noticed the depth of the trend until today. Same thing is happening in the gold sector. What I saw as simply a good trade on a bad day is becoming a sector that is attractive by itself (although I still prefer the NYSE large caps) MSFT, DELL, and this group were being attacked and there could be no rally in NASDAQ as long as they remained at impossible valuations. Now the almost godlike imperviousness of stocks like DELL,MSFT,LU,EMC, has been punctured. Hopefully, they will once again be the day/position trades we all enjoyed in the past. So the picture is not so dismal... There will be position trades soon enough. Looks like the stage is being set right now. The only sad part is that many people who lost money will not be able to take advantage of the 'bargains' and increased trading that will result. And we still don't know how long the exposure to Asia and other global problems will effect the earnings of the techs. The uncertainty in the tech seems to indicate a positive bias towards the NYSE for longer term trades in the immediate future.