Funds Stay Range-Bound

June 23, 2000
Loren Fleckenstein

The tradable tech
funds slumped across the board Friday, erasing the week’s
gains in most cases. But for all the action, the long-term
picture remains of a noncommittal market.

Some of the exit
money went into blue chip, energy and consumer staples
stocks, elevating those funds. But judging from the
relatively small gains in those areas, it appears that an
ample number of dollars simply left equities and derivative
funds altogether.

Exchange-Traded
Funds

The Internet HOLDR
broke below a nearly three-week trading range on rising
volume, and the Semiconductor HOLDR
(
SMH |
Quote |
Chart |
News |
PowerRating), which began
trading May 5, slid back into its prior basing zone. But
otherwise, most of the tech HOLDRs held in their ranges.

border=”0″
src=”https://tradingmarkets.com/media/images/fundmovers/flow062300-01.gif”
width=”450″ height=”292″>

border=”0″
src=”https://tradingmarkets.com/media/images/fundmovers/flow062300-02.gif”
width=”450″ height=”292″>

The Biotech HOLDR
(
BBH |
Quote |
Chart |
News |
PowerRating) lost 2% but is holding above the two-week trading
zone from which it broke out on June 19.

border=”0″
src=”https://tradingmarkets.com/media/images/fundmovers/flow062300-03.gif”
width=”450″ height=”292″>

Mutual
Funds

Gains among the
mutual funds Friday were modest. The more pronounced action
was on the downside, with some of the emerging market and
Japan funds running into headwinds.

Funds Stay Range-Bound

BUY THE FEAR, SELL THE GREED

Quick Links

Company Info

Contact

Company Resources