"This Rally Is Now for Real"


Q: You mentioned a pullback to 8500 on the Dow. What about a possible pullback on the NASDAQ? And to what level?

A: Currently, we believe small- and mid-cap tech will continue to outpace the large-cap universe. For that reason, I believe strength is to be found in the NASDAQ, while the greatest potential for pullback will likely reside in the larger-cap Dow stocks. Any resistance in the NASDAQ will likely be at the 20-month moving average, which the index closed above last month. Currently, this resides at the 1500 level.

Additional support for the NASDAQ will be found at the 1600 level. Support there will be found due to the fact that this is a 50% retracement level of the January, 2002, high to October, 2002, low.

Q: Do you have an opinion on which sector will have an outperform rating over the next six months?

A: Following the lea


Silicon Valley State of Mind
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