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Strategies & Market Trends : Sharck Soup
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To: velociraptor_ who wrote (11663)3/14/2001 7:00:41 AM
From: GREENLAW4-7  Read Replies (2) of 37746
 
V- Mike Murphy made an observation that NASD will receive inflows from a sinking dow over the next 3 months. He expects a bottom to form from 1850 as worst case.

Looking at todays futures it does look like DOW will break 10K soon. But looking at the fed meeting 4 days away I still held mostly longs. Looking to enter shorts once we get a SUSTAINED rally to the 2400-2600 area now. Just wish I sold yesterday, but I believed we need the 2-3 days of rally mode before selling the longs!

I would not be surprised if we break 1800 and head straight to 1500. But looking at the current carnage just don't know. But looks like 1929 chart of 89% down may be the best analogy to the current NASD.

Where would 90% down from 5200 take us?? 1300??
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