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One thing Ralph Acampora spoke about was the market rotation. It begins
with the Blue Chips (due to fear), it broadens to the Secondaries (like
the Russell 2000) and finishes with Speculative buying (due to greed).
He refered to the speculative buying as the $2 window at the traders
desk. When everyone is in that line look out.
After the greed, fear takes over and the cycle starts over again. We
have seen the entire cycle once this year. In April the Russel 2000,
Wilshire 5000 all took off. SO we were in the secondaries. How many
ONSLs are out there with PEs of 1200. Seems like speculation to me. So
are people afraid yet. Moving into the Blue Chips again?
Harley
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