| To: PCSS who wrote (485) | 5/20/2002 1:32:30 PM |
| From: Elwood P. Dowd | of 4150 |
| |
The following is an almost word-for-word rehash of the what an ML honcho was preaching on the Rukheyser(sp)CNBC show Friday night.
El
9:55AM Merrill Lynch reiterates selling tech into strength : Merrill Lynch in a pre-open note said that "mainstream" technology is not a growth sector anymore, and reiterates long-standing strategy of selling tech shares into strength given NASDAQ's recent rally; fragmentation, overcapacity, margin pressures, and pro forma reporting continue to plague the industry; however, the Pentagon may be the next "Killer App". Recommends redeploying assets into attractive themes such as: dividend-paying utilities, consumer staples, aerospace/defense, drugs, energy, and corporate-oriented financial stocks |
