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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Lachesis Atropos who wrote (20211)	3/12/1999 4:52:00 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70344

Hi Lachesis, >>Would the fear of y2k litigation be the cause of the outsourcing >>stocks falling. It could be, but it does not explain stocks like CATP and ITWO. They are not in the Y2K business. Their problem seems to be the fact that IT budgets are being diverted to solve the Y2K problem. That plus the general lack of visibility has most of the group on the defensive. In most case the revenues are being differed, not lost as far as I can tell. In the CATP case the OBV shows only weak selling pressure despite the large drop in the price. Most of it must be rotation out of the group into the DOW components. Stocks like AXP, GE and MMM are showing good strength. That plus the 2 upgrades two days ago on CATP with a $50 price target makes it looke like a good position trade if one has a strong stomach and a long time frame. April might be a mini-Waterloo like last year, that is why one needs a strong stomach. I am still not long any new positions. I needed at least an inside day on the TYX before I can go long. Are you still on the side lines or have you gotten bored and started taking selected positions? Harry