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Strategies & Market Trends : Ask DrBob
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To: longdong_63 who wrote (1838)8/26/2000 10:20:12 PM
From: bcrafty   of 100058
 
LD: Instead of a "correction of unknown magnitude"
Steve Frenkel is a little more specific.

Frenkel predicts 2780 by late October. He's the analyst who pretty closely called the bottom in May. He says he's going short around 4100 and would only change his negative views if the naz were to close above 4861.

He says that each rally of late has come on weaker momentum than the previous one and fewer stocks are participating, which suggests problems down the road. And he doesn't like the fact that the market hasn't mustered much strength from the Fed's recent announcement. He thinks earnings concerns will lead to an eventual collapse.

All this sounds real gloomy, but of course all I want to know is what is going to happen Monday.But I'm not selling any long term holdings yet.
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