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Non-Tech : Invest / LTD -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (7246)	2/9/1999 4:13:00 PM
From: SJS	Read Replies (1) \| Respond to of 14427

Talk about surfing the lower BB. Look at the 1 minute tick chart of the DOW average from 3:00 to 4:00. Small rally try at 3:20, but then capitulated... Surfin USA. ______________ TECH LEADERS: No question, techs were at the heart of the market's amazing rally over the past four months. And it has been the group leaders - Dell, Cisco, Lucent, etc. that have been pacing the sector/market. As such, traders will want to keep a close eye on these stocks for signs that the current correction has run its course. Recent history suggests that the big cap, well known industry leaders will outperform on the way down just as they did on the way up. So far, so good. Table below shows just how far the big boys have fallen from their recently established 52-wk highs. Stock Price % Off High Amazon (AMZN) 102 3/4 48.4% America Online (AOL) 151 7/8 14.4% Cisco (CSCO) 99 15.7% Compaq (CPQ) 43 3/8 15.4% Dell (DELL) 101 1/2 7.7% EMC (EMC) 98 1/2 10.4% IBM (IBM) 165 13/16 16.8% Intel (INTC) 128 5/8 10.5% Lucent (LU) 97 1/2 18.8% Microsoft (MSFT) 164 11/16 6.4% Oracle (ORCL) 55 5/8 9.9% Sun Microsystems (SUNW) 100 1/4 13.4% Yahoo! (YHOO) 146 1/8 34% Average decline is 16.1% - including AMZN and YHOO... Ex-these two volatile Net stocks, average is 12%. Typically, big (non-Net) names will fall between 15% and 20% before bargain hunters step back in aggressively... AMZN and YHOO more likely to fall by between 40%-50% before attracting bargain shoppers... Based on this pattern, Briefing.com expects techs to remain on the defensive for at least a little while longer as sector has no chance of sustaining a rally without participation from these leadership stocks.