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onesevenus

07/17/04 3:02 PM

#270957 RE: mainehiker #270956

or it may just continue trading sideways and spring up in a couple of weeks...

To me it looks like 50/50 chances for either way...



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Zeev Hed

07/17/04 3:31 PM

#270961 RE: mainehiker #270956

I don't know, I am looking at core issues like COO, PII (just made new high Friday), TTC, TBL (recent weakness like SKX, but if it holds above about $57.5 still solid, I am planning to double up, actually), POOL, TLM, I don't see any major deterioration, bloated pigs, are suffering, maybe, but good outfits have weathered this storm quite nicely, including non core issues such as ZBRA, CRDN (missed rentry by a dime Friday, zut alors..), LSCP, LCAV, GIVN (not in, took profits and waiting for retrench), BIIB, TEVA, GENZ (left a double bucker plus on the table on that one this week), and don't forget our darling clementine, BSTE. Even POSIII ONNX, retested nicely the $36.50 area and I think it may march to the resistance at $41.5 to $42.5 shortly....

Sure small bios without earnings and just stories like POS (yes, I took a loss on it this week...), are suffering, maybe the market is becoming more rational after all....

Since we are already talking about POS, do you think that the $6.5 of last August will hold on GERN? Are ARIA and DNDN destined to revisit last August lows as well?

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osprey

07/17/04 5:20 PM

#270969 RE: mainehiker #270956

Just sector rotation. One by one the sectors are being taken out.....and shot. And this is not an exaggeration.

The two sectors I follow closest have been hit pretty hard, the SOX and BTK, bios. Both are full of small and mid cap story companies and right now the money is heading for the hills and safety. I also read this morning that some of the financial sectors aren't doing well either.

What seems to be holding up are commodities, precious metals, and of course oil and gas and even utilities are showing some life.