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

To: donald sew who wrote (13422)	5/10/1999 2:27:00 PM
From: StockOperator	Read Replies (1) \| Respond to of 99985

Don, Your comments regarding the damage done to many of the high techs is very accurate. That is why I think you have to trade each issue and index individually. Just because the DOW is heading higher may ultimately have little to do with the direction of Merck's price, or any other stock for that matter. The thing that bothers me here is the weakness I am seeing for many of those high tech generals at a time when the NAZ (index) is at a position where it should be breaking out strongly. That combined with the fact that interest rates are rising and will most likely test the six percent level. I believe these are definitely a recipe for caution. Especially when you consider that we will continue to trade in limbo at least until the 18th. I think the interesting thing about what's happening right now is that the damage done to many of these high tech's these past couple of weeks is just now beginning to become more pronounced in the index itself (at least for the NAZ). Good trading. SO