How Smart Can You Get?
How smart the
market is, much of Wednesday’s
action telling you whom the winner would be.
We’ll see Thursday how truly
knowledgeable it is.
Wednesday’s desecration in the tech
benchmarks, though amusing to watch, says little fresh about the
beneath-the-surface sentiment of institutions.
The action of the two highest relative
strength benches, however, does.
Specifically, EMC
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best-acting bell, began to roll over anew…it’s rolled up six distribution days
and just one accumulation day in the last dozen.
Further, Sun
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in terms of recent ability to withstand arrest, also did the roll…this after
eight days of mostly wedging activity (price progress on lighter and lighter
trade).
Meanwhile, could über glamours
Juniper
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and mentioned here Monday as lacking proper structure, actually be tracing
head-and-shoulders tops?
Yes, if the recent behavior of
Verisign
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Ciena
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BEA
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lines of JNPR and BRCD — too whippy.
That leaves Siebel
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Check Point
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Their near-term health, though, won’t
shed new light on anything.
This in view of the fact that there is
just too much repair work needed elsewhere in the growth sector.
As intimated recently, healthcare,
spearheaded by the bios, stands the best chance of leading the next advance,
whenever that should occur.
Though the sex appeal of healthcare is
not to be confused with that of tech, it is one of the only growth sectors in
the market.
Of course, for those who listen, the
tape itself will announce where the next leadership will be.
For those who
listen.