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Monday, July 30, 2001: Sell. In the
month since our July 2 weak buy call, this
sector has not moved much, going as much as 2%
higher and nearly 7% lower, but is back to
month ago levels. Over that time the industry
has shown very little strength, and our
signals have gone from bullish to bearish. We
do
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not expect a very strong sell-off, but we can no
longer justify staying in the sector.
Monday, July 2, 2001: Weak buy. This
sector is down over 15% from its highs nearly
six weeks ago and is once again at the bottom
of the trading range it has been in for the
last year. With bullish signals on all but one
of the stocks we track in this sector, as well
as on the overall index, we believe this
sector will be headed up shortly. We must add, however, that
the type of signals we are getting are typically
indicative of a more short-lived upmove,
followed by a longer downturn, so we will be on
the lookout for signs of weakness in this
industry once prices have risen 5-7%.
· August
2001
· June
2001
· May
2001
· April
2001
· March
2001
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