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Thursday, December 29, 2000:
Overall market weakness expected.
Thursday, December 21, 2000:
Buy on overall market. While we did expect to
see this sector dragged down somewhat by the
downturn in high tech
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predicted on Dec. 11, analyst downgrades on the
industry and further realization by the
investment community as to the extent of the
slowdown in the PC area have combined to bring
these stocks down significantly more than even
we expected. We do see this sector turning up
shortly (we've gotten bullish signals on all of
these stocks in the past 5 trading days),
however, most of these stocks have broken
through major long term support, and without
some pointed improvement in the fundamentals, we
see any upturn likely to be short-lived. In the
near term, regardless of upside, we believe
there are more attractive market sectors (more
upside potential with lower risk) and would not
trade in this sector.
Monday, December 11, 2000: This
sector is up over 20% since our recent market
buy and we see it as likely that these stocks
may suffer a little due to an overall market
pullback. However, we do see the computer stocks
as more of a value area which is still more
inexpensive than most other high-tech sectors.
That, combined with the fact that several of the
more major computer stocks have either recently
been hit harder or have already given up much of
their recent gains, contributes to our belief
that any pullback in the computer sector will
not be very steep.
· November
2000
· October
2000
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September
2000
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August
2000
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July
2000
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