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

To: Yogizuna who wrote (13350)	5/9/1999 10:24:00 PM
From: pater tenebrarum	Read Replies (1) \| Respond to of 99985

Yogi, i may not agree with you on serbia, but you do have a point regarding the internet stocks. from what i see, every little rally attempt encounters heavy selling and if a recovery doesn't happen soon it may indeed be 'crash-and-burn' time. i believe that short term relief for the stocks can only come from further consolidation in the industry, but if no big deals are announced in the near future i fail to find a credible catalyst to get the stocks moving north again.among analysts the opinion seems to prevail that the net stocks will go through the 'usual' pattern, in other words that they will consolidate now and then proceed to go to even dizzier levels than before. this view is so widespread that i tend to believe it will not be borne out this time. in fact i believe that the weakness in the net stocks may well be a warning sign with regards to the rest of the market. if i recall correctly, the market's breakout from the february-march congestion started with a (then widely unanticipated) strong showing by the internet stocks. regards, hb