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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Compadre who wrote (13081)	5/6/1999 10:47:00 PM
From: American Spirit	Read Replies (2) \| Respond to of 99985

TECH SELL-OFF - in my opinion we're seeing a re-arrangement more than a across-the-board sell-off. AOL has been hard hit by the ATT deal. Amazon has been wounded. Both bellweathers need to find bottoms before we bounce. Many others are looking fine. IBM, INTEL, any company on the ATT side of things, cable and wireless. Problem is the market hates uncertainty and until the dust settles on all this there won't be that much buying on the dips. But it will reach a point where the selling is all doen with and I think we could be there any day. AOL near recent low of 112 now. 6 points away. If that holds then many techs will bounce. Rememebr earnings have been fine. The inflation fear is probably overblown. A knee-jerk reaction. MRK went up today showing a bounce for the drugs. Many value plays now in the techs and drugs. Many story stocks too whose news is being all but ignored. But that won't last too much longer. TONS of money on the sidelines just waiting. Those who sell growth stocks now may regret it very soon.