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I'm a fundamentalist and what bothers me about this move up has been the
plowing back into the same old standby large caps on the NAS like they
think they're gong back to old highs and they're going to miss it. An
example is AMAT up $5-6 today and strongly up the past few
days. Fundamentals have not improved for chip makers but they're pouring
into them anyway. These moves can not be sustained and they are setting
things up for a large set back. Should we *ever* see money flow across the
board into mid-caps and lower beta stocks, I'll be ready to plow in with em
but until then, I'm more interested in shorting these "blasts" up than
trying to participate in them. Buying lower volume stocks will be my
indication that a move has courage and sustainable action.
Bob
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