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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Perspective who wrote (17449)	9/11/2000 10:19:21 PM
From: AllansAlias	Read Replies (1) of 436258

I hear ya bobcor, but imo the prudent thing to do is assume that we will bounce at impt points. The BK may well come out of nowhere and wipe out 20% in a day, but the signs certainly do not look ominous just now. If non-tech, which is still very strong, would take a tumble then we might get a nasty slide here, but I am not betting ot it. Oil prices, and NG which is very impt to industry, are not being discounted imo so there is a possibility that this could begin to kick in. And of course, a slide in the buck would help enormously. -g You speak of long-term support and that is where one needs to look obviously. The CSCO break today is an important technical development, but there is lots of support coming up soon. Just look at the top 20 NDX stocks and ask yourself which ones should bounce soon. Agree that it will be harder to keep the techs up without CSCO, but the next bounce will probably get some decent points from CSCO as it goes back up to the important short-term line that it broke today. Still, it should be a helluva fight to beat it down to the $50 area. That is the May low, but we now have rising support in play that was not a factor in May.

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